Cobb–Douglas production function

Cobb–Douglas production function is a production function of the form F(K, L) � AK�L1��, where K is capital, L is labor, and A and � are parameters.

Definition

According to Macroeconomics by Mankiw (7th edition),

Cobb–Douglas production function. A production function of the form F(K, L) � AK�L1��, where K is capital, L is labor, and A and � are parameters.