Abstract:<abstract><p>The common production functions include the Leontief production function, the Cobb-Douglas (C-D) production function, the constant elasticity of substitution (CES) production function, the variable elasticity of substitution (VES) production function and so on. With different elasticity of substitution of factor, the production functions have different ranges of applications. In the production functions, the C-D production function is used the most widely because of its simple form, wh… Show more
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