The Taylor approximation to the n-input constant elasticity of substitution (CES) function is presented and compared to Kmenta's well-known approximation for n = 2. The n-input approximation is, as ...
In micro-economic theory much room is given to the discussion of inhomogeneous production functions, or more precisely, production functions with a monotonically decreasing elasticity of scale. On the ...
Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation Most macroeconomic models assume that aggregate output is generated by a specification for the production function with ...
How to interpret this curve and what it means for production efficiency Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of experience as a business executive. He ...
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