Calculate the elasticity of substitution between y and x for F(x,y) = 10x^2 + 15y^2
I was able to calculate the Marginal Rate of Substitution as 20x/30y but I'm not sure how to proceed past that. The answer in the book is -1. Any and all help appreciated!
If a and b are constants, compute the expression KY'(K) + LY'(L) for Y = AK^a + BL^a
Y'(K) means partial derivative with respect to K by the way. The answer in the book is KY'(K) + LY'(L) = aY
I'm not sure what they did or what they're asking :/