Cobb-Douglas production function Q = ALα K1–α does not possess the characteristics of
A. Constant Returns to Scale
B. Unit Elasticity of Substitution
C. Variable Elasticity of Substitution
D. Linear homogeneity
Answer:C
Cobb-Douglas production function Q = ALα K1–α does not possess the characteristics of
A. Constant Returns to Scale B. Unit Elasticity of Substitution C. Variable Elasticity of Substitution D. Linear homogeneity