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Which of the following is the correct statement?
1. The slope of the Isoquants represents the MRTS
2. The MRTS of the inputs x and y = $$\frac{{{\text{M}}{{\text{P}}_{\text{x}}}}}{{{\text{M}}{{\text{P}}_{\text{y}}}}}$$
3. The elasticity of substitution between two inputs x and y is proportionate change in the ratio of two inputs divided by proportionate change in the MRTS
4. If degree of homogeneity is greater than one, the production function is increasing returns to fixed factor
Elasticity of substitution for CES production function ranges from
Written in this form, the CES constant Elasticity of substitution production function exhibits
In the linearly homogeneous Cobb-Douglas production function with two inputs, the elasticity of substitution between the inputs is
The government is planning to launch CES with a revised methodology for FY22. What does 'E' stand for in CES?
On the expansion path of the firm operating with homogeneous production function, which among the following remain constant?
1. Input ratio
2. Price ratio of inputs
3. Marginal rate of technical substitution between the factors
4. Elasticity of substitution
Select the correct answer
A significant property of the Cobb-Douglas production function is that the elasticity of substitution between inputs is
The given bar graph represents data of the production of paper (in ten lakh tonnes) by three different companies X, Y and Z during the years 2008 to 2012. The x-axis shows the 'years' and the y-axis represents the 'production of paper (ten lakh tonnes)'. (Note: The data shown is only for mathematical exercise. They do not represent actual figures.)  The total production of Company Y during 2008 and 2009 and Company X for 2011 and 2012 taken together is p% (p is correct to the nearest integer) more than the total production of Company Z during 2010, 2011 and 2012. The total production of Company Z during 2008 and 2009 taken together is q% (q is correct to the nearest integer) less than the total production of Company X during 2008, 2009 and 2012 and Company Y during 2010 and 2011 all together.  What is the positive difference between p and q ? 
There are two types of inputs to a process besides the raw material. That are controllable inputs and _____ inputs.
There are five crude oil refining companies in India namely, A, B, C, D, and E. Statements: I. The production of Company B is more than that of Company A but not more than that of Company E. II The production of Company C is more than the production of Company B but NOT as much as that of Company D. III. The production of E is NOT as much as the production of Company D. Which of these statements is/are sufficient to answer the question that the production of which of the following companies is the highest?