The elasticity of technical substitution is measured by which of the following formulae? (a)…


The elasticity of technical supply is measured by which of the aftercited formulae?

(a) (ΔK/ΔL)/(K/L);

(b) Δ(K/L)/MRTS;

(c) [Δ(K/L)/(K/L)]/[ΔMRTS/MRTS]; or

(d) [(ΔK/ΔL)/(K/L)/ΔMRTS.