Question
What does the elasticity of substitution
depict?Solution
Elasticity of substitution is the elasticity of the ratio of two inputs to a production (or utility) function with respect to the ratio of their marginal products (or utilities). In a competitive market, it measures the percentage change in the two inputs used in response to a percentage change in their prices. It gives a measure of the curvature of an isoquant, and thus, the substitutability between inputs (or goods), i.e. how easy it is to substitute one input (or good) for the other
- Select the option figure which is embedded in the given figure. (rotation is NOT allowed).
Select the option in which the given figure X is embedded (rotation is not allowed).
From the given answer figures, select the one in which the question figure is hidden/embedded (rotation is not allowed).
In each of the following questions, you are given a figure (X) followed by four alternative figures (1), (2), (3) and (4) such that figure (X) is embed...
- Select the option in which the given figure is embedded (rotation is not allowed).
Select the option in which the given figure is embedded (rotation is not allowed).
Select the option in which the given figure is embedded.
From the given answer figures, select the one in which the question figure is hidden / embedded(rotation is not allowed).
From the given answer figures, select the one in which the question figure is hidden/ embedded.
Select the option that is embedded in the given figure (Rotation is not allowed).
