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| | Egwald Economics - Production Functions: Translog (Transcendental Logarithmic) Production Function |
 | | But then capital, K, is a missing variable from the estimation, skewing the estimates of the coefficients of the production function F |
 | | The short run average cost curve is (approx.) tangent to the long run average cost curve, at q = 30. |
 | | Let the production function be q = F(L,K,M), where K is underlined to indicate it is constant in the short-run. |
| www.egwald.com /economics/translogproduction.php (772 words) |
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