Economy, asked by mondaltanima5, 3 months ago

If iso quants are L - shaped. What is the value of elasticity of substitution between inputs?

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Answered by hiral128794

Answer:

When both inputs are perfect substitutes, isoquants are straight line and have a constant slope because one input can be replaced with the other at the same rate.

Explanation:

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If iso quants are L - shaped. What is the value of elasticity of substitution between inputs?​

Answers

If iso quants are L - shaped. What is the value of elasticity of substitution between inputs?