Cobb-Douglas Production Function

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In summary, the conversation discusses the proper way to post problems and receive help on a forum. The speaker expresses frustration with the original poster for simply posting a problem without any attempt at solving it and expecting others to solve it for them. The speaker also mentions a previous post where the original poster actively engaged in finding a solution and received help. The speaker then asks the original poster to provide more context and information about their attempted solutions and difficulties.
  • #1
keytharr
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For a Cobb-Douglas production function Q = AL^α K^β, verify the following equations:
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  • #2
Hello, welcome here.

Sorry for being a bit acidic today, but I don't think this is a nice way to post problems. Essentially, you a "dumping" your problem here (which seems to be from a take-home exam or a graded problem set) and then, without any further comment or attempt at a solution, expect others to solve it for you.

Yesterday I saw in passing that another new user posted a problem. It it https://mathhelpboards.com/differential-equations-17/mixing-common-drain-page-537-46-fundamentals-differential-equations-bvp-nagle-24231.html. Can you see the difference? (I am not talking about the mathematical content.) He then received help, continued to think along, and got his result verified. I think that's very nice.

So, for your case, starting with (a), what did you try and what difficulties are you facing?

Best wishes,

Sebastiaan.
 

FAQ: Cobb-Douglas Production Function

1. What is the Cobb-Douglas Production Function?

The Cobb-Douglas Production Function is an economic model that describes the relationship between inputs and outputs in a production process. It is named after economists Paul Douglas and Charles Cobb, who developed the model in the 1920s.

2. What are the inputs and outputs in the Cobb-Douglas Production Function?

The inputs in the Cobb-Douglas Production Function are typically labor and capital, while the output is the quantity of goods or services produced. The model assumes that these inputs are combined in a fixed proportion to produce output.

3. What is the formula for the Cobb-Douglas Production Function?

The formula for the Cobb-Douglas Production Function is Q = A * L^a * K^b, where Q is the output, A is a constant factor of production, L is labor input, K is capital input, and a and b are the output elasticities of labor and capital respectively.

4. What are the assumptions of the Cobb-Douglas Production Function?

The main assumptions of the Cobb-Douglas Production Function are that inputs are combined in a fixed proportion, there are diminishing returns to each input, and there are constant returns to scale. It also assumes that technology and resources are fixed in the short run.

5. How is the Cobb-Douglas Production Function used in economics?

The Cobb-Douglas Production Function is used to analyze the efficiency and productivity of a firm or industry. It can also be used to understand the relationship between inputs and outputs, and to make predictions about the impact of changes in inputs on output. Additionally, the model is used in economic growth theories to explain the long-term growth of economies.

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