Figure 4. Approximation of X(Na) for CES production function.
—ô—0.50 —Δ—1.00 —X—1.50 —S—2.00 —о—2.50
---о---0.50 -→ --1.00 х --1.50 -- о --2.00 ---о---2.50
Solid lines: X(Na ) = εαNρ[(K /L)ρ + (1 + aNa )ρ]-1, ρ = -1.5, a =10, r = 0.03, ε = 1.
Dashed lines: approximations X ( Na ) = akNp ( K / L )β, k = 0.204, α = 0.838, β = 0.684.
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