UGC NET
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Eduncle Asked an Mcq
March 2, 2020 12:26 pm
  • UGC NET
  • Economics

Given below are two statements – one is labelled as Assertion (A) and the other is labelled as Reason (R) : 

Assertion (A) : CES production function covers large class of production functions
Reason (R) : CES production function has the property of constancy of elasticity of factor substitution
In the light of the above two statements, choose the correct option : 

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  • Eduncle Best Answer

    CES Production function covers the large class of production functions as it has the feature of constancy of elasticity of factor substitution.

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