Answer to Question #147129 in Engineering for Aanchal

Question #147129
What will be the elasticity of substitution of production function q=√L+K ?
1
Expert's answer
2020-12-10T02:57:10-0500

 of q with respect to L=0.5 L-0.5

 of q with respect to K=1

Technical rate of substitution=0.5/(L)0.5

Elasticity substitution=reciprocal of [ of TRS=-0.25/(L)1.5]

Elasticity substitution =0.25 L 3/2

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