Economics · Production Functions
The Translog (Transcendental Logarithmic) production function allows for which of the following features? 1. Constant elasticity of substitution2. Variable elasticity of substitution3. Variable returns to scale4. Fixed factor proportions
- 11 and 4 only
- 22 and 3 only✓
- 32 and 4 only
- 41, 2 and 3
Correct answer
2 and 3 only
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