Tag Archives | Cobb-Douglas Production Function

Cobb-Douglas Production Function | Econometrics

In this article we will discuss about the Cobb-Douglas production function. The production function is defined as technical relationship between physical quantity of inputs and physical quantity of output of any sector, agricultural sector or industrial sector. This functional relationship can be specified as follows: Y = f (X1, X2, X3............... Xn) Where Y = Physical quantity of output and [...]

By |2016-11-04T05:15:53+05:30November 4, 2016|Econometrics|Comments Off on Cobb-Douglas Production Function | Econometrics

Cobb-Douglas Production Function and Its Properties

While discussing the production theory of the firm, economists C. W. Cobb and P. H. Douglas used a special form of production function, which is known as the Cobb-Douglas Production Function. Cobb-Douglas (C-D) production function is of the form Q = ALαKβ                                    (8.100) where L = quantity used of labour K = quantity used of capital Q = quantity of [...]

By |2016-09-17T15:57:51+05:30September 17, 2016|Production Function|Comments Off on Cobb-Douglas Production Function and Its Properties
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