CES PRODUCTION FUNCTION Convexity #CES #Convexity #Negative_slope #Gate #Net #Partials #Mpl #Mpk #DU

in this video we will the properties of CES Production function ie the isoquants (IQs) generated by the CES production function are always negatively sloped and strictly convex for positive values of L and K A production function with constant elasticity of substitution (CES) between the inputs—the CES production function as it is called—has two major characteristics. First, it is homogeneous of degree one. Second, it has a constant elasticity of substitution. Production functions which do not possess one or both of these characteristics do not belong to the CES class.