Question

state eulers theorem for a function of two variables​

Answer 1

Answer:

When F(L,K) is a production functionthen Euler's Theorem says that if factors of production are paid according to their marginal productivities the total factor payment is equal to the degree of homogeneity of the production function times output. The case of n=1 is an important special case.

Answer 2

Answer:

when F(L+K) is a production of function then Euler's theorem says that if factors of production are paid according to their marginal productivities the total factor payment is equal to the degree of homogeneity of the production function times output. the case of n=1 is an important special case

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