11.6 Show that for the constant returns-to-scale CES production function q [K L ]1/ a....

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11.6 Show that for the constant returns-to-scale CES production function q [K L

]1/

a. MPK 1

and MPL 1

b. RTS 1

. Use this to show that 1/(1 ).

c. Determine the output elasticities for K and L. Show that their sum equals 1.

d. Prove that

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Microeconomic Theory Basic Principles And Extensions

ISBN: 9780324270860

9th Edition

Authors: Walter Nicholson

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Question Posted: Nov 12, 2024 03:01 AM

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11.6 Show that for the constant returns-to-scale CES production function q [K L ]1/ a....

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Microeconomic Theory Basic Principles And Extensions

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