Consumer Utility Functions: Calculating the Elasticity of Substitution
Economics in Many Lessons
Published at : 03 Jan 2021
This video shows how to calculate the elasticity of substitution using two examples: 1) CES utility function and 2) Cobb-Douglas utility function. The methods shown here can be used to find the elasticity of substitution from production functions, too.
elasticity of substitutioncobb douglasCES