- Bookcover of Cobb–Douglas Production Function
- Booktitle:
-
Cobb–Douglas Production Function
Theory, Consumption, Expenditures, Demand, Curve
Tract (2012-05-14 )
eligible for voucher
- ISBN-13:
978-613-6-16535-6
- ISBN-10:
- 613616535X
- EAN:
- 9786136165356
- Book language:
- Blurb/Shorttext:
- Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. In economics, the Cobb–Douglas functional form of production functions is widely used to represent the relationship of an output to inputs. Similar functions were originally used by Knut Wicksell (1851–1926), while the Cobb-Douglas form was developed and tested against statistical evidence by Charles Cobb and Paul Douglas during 1900–1947.Output elasticity measures the responsiveness of output to a change in levels of either labor or capital used in production, ceteris paribus. For example if α = 0.15, a 1% increase in labor would lead to approximately a 0.15% increase in output.
- Publishing house:
- Tract
- Website:
- http://www.betascript-publishing.com
- Edited by:
- Eloi Rylan Koios
- Number of pages:
- 72
- Published on:
- 2012-05-14
- Stock:
- Available
- Category:
- Money, Bank, Stock exchange
- Price:
- 2770.03 руб
- Keywords:
- Theory, Curve, Demand, Consumption, Expenditures
