Q.
1
Q = A [αK-β + (1 – α) L-β]-1/β
OR
Q = A [αL-β + (1 – α) K-β]-1/β
Where, A > 0, 0 < α < 1, β > -1
Where, L = Labor, K = Capital and A, α and β are three parameters
-
A
Constant elasticity substitution function
-
B
Variable elasticity substitution function
-
C
Leontief – type function
-
D
Cobb – Douglas function