Economics · Production Theory
In a Constant Elasticity of Substitution (CES) production function, if the value of the substitution parameter (ρ) is equal to -1, the elasticity of substitution (σ) will be:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Indeterminate
- 2Unity
- 3Infinite✓
- 4Zero
Correct answer
Infinite
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