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We offer a new proof of the maximum principle, by using the envelope theorem that is frequently used in the standard microeconomic theory. Copyright Springer-Verlag Berlin Heidelberg 2003
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Based on some elementary results on duality, the paper proposes a much simpler way of deriving the class of non-homothetic CES production functions which was derived as a solution to a partial differential equation that defines the elasticity of substitution.
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