GENERALIZATION OF THE PRODUCTION FUNCTION OF COBB-DOUGLAS TYPE
The purpose of this paper is to generalize the operation of Cobb-Douglas type production, thus achieving the interdependence between the resources used and the manufacturing factors in the production process. To achieve the proposed goal, we have independent variables as input variables and variab...
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| Format: | Article |
| Language: | English |
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Editura Univeristatii "Stefan cel Mare" din Suceava
2021-12-01
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| Series: | USV Annals of Economics and Public Administration |
| Subjects: | |
| Online Access: | http://annals.feaa.usv.ro/index.php/annals/article/view/1342/1087 |
| Summary: | The purpose of this paper is to generalize the operation of Cobb-Douglas type production, thus achieving the
interdependence between the resources used and the manufacturing factors in the production process. To achieve the
proposed goal, we have independent variables as input variables and variables dependent on this output variable. The
input variables are the resources used and the factors of production, and the output variable is the production function.
The established results consist in generalizing the Cobb-Douglas-type production function, determining the dependent
variable elasticities in relation to each independent variable and marginal productivity, going through the steps of the
least squares method and obtaining the coefficients of the Cobb-Douglas-type production function. These analyzes are
essential in large econometrics and are useful for researchers who want to use more influencing factors (inputs) in econometric analysis |
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| ISSN: | 2285-3332 2344-3847 |