Multiple Choice
Which of the following is true?
A) The Cobb-Douglas production function is given by the general formula and the constant elasticity of substitution is equal to 0 .
B) The Cobb-Douglas production function is given by the general formula and the constant elasticity of substitution is equal to 1 .
C) The Cobb-Douglas production function does not exhibit a constant elasticity of substitution.
D) The Cobb-Douglas production function always takes the form .
Correct Answer:

Verified
Correct Answer:
Verified
Q47: <span class="ql-formula" data-value="\text { A production function
Q48: A fixed proportions production function:<br>A)is not observed
Q49: The Cobb-Douglas production function does not exhibit
Q50: <span class="ql-formula" data-value="\text { The Cobb-Douglas production
Q51: The production function represents:<br>A)the quantity of inputs
Q53: When labor is the only input to
Q54: Consider comparing the relationship between marginal
Q55: Given a production function <span
Q56: Returns to scale refers to:<br>A)the increase in
Q57: A measure of how quickly the marginal