The CES Production Function
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YouTubeKlaus Prettner
The CES Production Function
I describe the CES production function and the meaning of its parameters – which determine, for example, the elasticity of substitution between capital and labor. Then I use the CES production function to derive three important special cases that are often applied in economics: - the linear production function (perfect substitutability ...
4.2K viewsFeb 15, 2023
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