Cobb Douglas Production Function And Elasticity of Substitution | Ecoholics
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- เผยแพร่เมื่อ 18 ก.ย. 2024
- Cobb-Douglas production function is a particular functional form of the production function, widely used to represent the technological relationship between the amounts of two or more inputs (particularly physical capital and labor) and the amount of output that can be produced by those inputs.
One of the limitations of Cobb-Douglas production function is the unitary elasticity of substitution between labour and capital. This is a rigid assumption of Cobb-Douglas production function. “The elasticity of substitution in the Cobb-Donglas Production Function is unity”
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Good explanation it is even easier if you explain with an example
Thanks
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there is little mistake in differentiation , but i understood so no problem , THANK YOU ECOHOLICS
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Thank you madam I can finally understand the concepts. Thanks
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Thank you mam 😊
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Thank you so much ma'am.
You're welcome Simmi 😊
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Nice presentation mam
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Thank you ma'am.
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In derivation of K why did u take L in denominator.. It should b Delta K
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@@ECOHOLICS i saw tht too.guess its just slip of pen.