Difference between revisions of "Cobb–Douglas production function"
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Latest revision as of 17:26, 1 July 2020
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.
