Ionutzakis

Ill see if i can conjure up some old econ theory. think of a production function, Y=(K^.3,L^.7) and Y'=(K^.5,L^.5) the first derivative of Y with respect to L is = .7(K^.3/L^.3) , and Y' with respect to L = .5(K^.5/L^.5) if inputs, K,L are the same , the elasticity is greater for the more labor intensive first equation Y.