Answer to Question #77410 in Microeconomics for sehr

Question #77410
plz tell me the production theory which showed that energy and capital are perfectly substitutable or any theory name which discuss labor and energy but ignoring the capital in production model
1
Expert's answer
2018-05-21T07:53:08-0400
Constant elasticity of substitution (CES), in economics, is a property of some production functions and utility functions.
As its name suggests, the CES production function exhibits constant elasticity of substitution between capital and labor. Leontief, linear and Cobb–Douglas functions are special cases of the CES production function.
Source:
https://en.m.wikipedia.org/wiki/Constant_elasticity_of_substitution

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS