CBSE Class 12-commerce Answered
What is Cobb-Douglas production function?
Asked by Topperlearning User | 25 Apr, 2016, 01:04: PM
Expert Answer
Assume that the firm is producing q amount of output by using x1 amount of factor input 1 and x2 amount of factor input 2. Then, the production function is as follows:
q= x1α x2β , where α and β are constants
This is called Cobb-Douglas production function.
Answered by | 25 Apr, 2016, 03:04: PM
CBSE 12-commerce - Microeconomics
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ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 01:04: PM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 01:04: PM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 01:04: PM
ANSWERED BY EXPERT
