# Questions tagged [leontief]

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### Leontief function marginal product of labor/capital

Find marginal product of labor of a Leontief production function. For example, $$f(L, K) = min\{\frac{L}{a}, \frac{K}{b}\}$$ MY ATTEMPT Now as I understand it the marginal product of labor, $MP_L$ ...
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### Leontief preferences and 2nd welfare theorem

Does the 2nd welfare theorem hold with Leontief preferences? If not, which of the assumptions does not hold?
In most Microeconomics textbooks it is mentioned that the Constant Elasticity of Substitution (CES) production function, $$Q=\gamma[a K^{-\rho} +(1-a) L^{-\rho} ]^{-\frac{1}{\rho}}$$ (where the ...