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Economics
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Producer Theory
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Cobb-Douglas Production Form
Cobb-Douglas Production Form
A widely used functional form assuming constant returns to scale and multiplicative input effects.
Q
=
A
L
α
K
β
Q = A L^{\alpha} K^{\beta}
Q
=
A
L
α
K
β
. The exponents
α
\alpha
α
and
β
\beta
β
represent output elasticities.