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Statement I: The elasticity of factor substitution is formally defined as the percentage change in the capital-labour ratio divided by the percentage change in the marginal rate of technical substitution. Statement II: Q = 5K0.5 L0.3 is a production function where Q = output, K = units of capital and L = units of labour. This production function shows the application of increasing returns to scale. Codes:

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The UGC NET management syllabus consists of these 10 units:

Management
Organizational Behaviour
Human Resource Management
Financial Statements
Financial Management
Strategic Management
Consumer and Industrial Buying Behavior
Statistics for Management
International Business
Entrepreneurship Development


Statement I: The elasticity of factor substitution is formally defined as the percentage change in the capital-labour ratio divided by the percentage change in the marginal rate of technical substitution. <br /> Statement II: Q = 5K0.5 L0.3 is a production function where Q = output, K = units of capital and L = units of labour. This production function shows the application of increasing returns to scale.<br /> <em>Codes:</em>






 
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