The Complete Theory of Cobb-Douglas Production Function
The Complete Theory of Cobb-Douglas Production Function

Summary/Abstract: The paper treats various aspects concerning the Cobb-Douglas production function. On the one hand were highlighted conditions for the existence of the Cobb-Douglas function. Also were calculated the main indicators of it and short and long-term costs. It has also been studied the dependence of long-term cost of the parameters of the production function. The determination of profit was made both for perfect competition market and maximizes its conditions. Also we have studied the effects of Hicks and Slutsky and the production efficiency problem.

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