Question

Q.Elasticity of substitution is
i.
The substitution of cheaper inputs for dearer inputs
ii.
The rate at which inputs are substituted
ii.
A measure of the responsiveness of input ratio to a change in input-price ratio
iv.
A measure of the responsiveness of input prices and the substitution of cheaper
inputs
of​

Answer 1

Explanation:

teacher told the students that petroleum and natural gas is used to form many useful products which are known as petrochemicals. These are used in the formation of........ *

2 points