Cobb Douglas production function as X = b0, Ib1, Kb2 which of the following is correct?

Cobb Douglas production function as X = b0 Ib1 Kb2 which...

Home / Commerce / Economics / Question

Examveda

Cobb Douglas production function as X = b₀, Ib₁, Kb₂ which of the following is correct?

A. The substituent elasticity is equal to the unit

B. The instrument measures the concentration by the ratio b₁/b₂

C. Organization and entrepreneurship are measured by efficiency

D. All of these

Answer: Option D

This Question Belongs to Commerce >> Economics

Join The Discussion

Related Questions on Economics

The capital that is consumed by an economy or a firm in the production process is known as

A. Capital loss

B. Production cost

C. Dead-weight loss

D. Depreciation

View Answer

Who propounded the opportunity cost theory of international trade?

A. Ricardo

B. Marshall

C. Heckscher & Ohlin

D. Haberler

View Answer

Which among the following statement is INCORRECT?

A. On a linear demand curve, all the five forms of elasticity can be depicted

B. If two demand curves are linear and intersecting each other, then, coefficient of elasticity would be same on different demand curves at the point of intersection.

C. If two demand curves are linear and parallel to each other, then, at a particular price, the coefficient of elasticity would be different on different demand curves.

D. The price elasticity of demand is expressed in terms of relaive not absolute changes in Price and Quantity demanded.

View Answer

If the demand for a good is inelastic, an increase in its price will cause the total expenditure of the consumers of the good to

A. Increase

B. Decrease

C. Remain the same

D. Become zero

View Answer