Ayushi posted an Question
August 11, 2020 • 22:39 pm 30 points
  • UGC NET
  • Economics

64. for given production function p=p (k, l) under constant returns to scale, eulers theorem will be (1) p- dk+d ol ap (2) pdk +d (3) pdk +dl (4) pdk al . 65. i

64. For given production function P=p (K, L) under Constant Returns to Scale, Eulers theorem will be (1) P- dK+d OL aP (2) PdK +d (3) PdK +dL (4) PdK aL . 65. If y=|1+, then dx dx log(x+1)-ei

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    Nidhi taparia best-answer

    64. The correct answer is (1). The Euler's theorem is also known as product exhaustion theorem. According to it, total product if distributed among factors of production based on their contribution (marginal product) to it, then the total product is exhausted entirely. That is why, P = (dP/dK)dk + (dP/dL)dL

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