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Constant elasticity of transformation

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Constant Elasticity of Transformation (CET) was first advanced by Powell and Gruen in a 1968 publication.[1] It is a new form of production-possibility frontier. Following on that early work, George Philippidis made a detailed introduction of the CET function in 1999. The CET is the corollary CES function, where the production possibilities of the firm (industry) are a function of different combination of supply activities.

References

  1. ^ Powell and Gruen (1968)
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