$$\text { The Cobb-Douglas production function always takes the form } Q = \mathrm { K } ^ { 2 } \mathrm {~L} ^ { 2 } \text {. }$$

Question

Quizplus · Accepted Answer

The Cobb-Douglas production function can take various forms, such as $Q=K^\alpha L^{1-\alpha}$, where $\alpha$ is a parameter between 0 and 1. The Cobb-Douglas production function is a general form of the production function and is given as:
Q = AKαLβ
Where Q is the amount of output, K is the amount of capital, L is the amount of labor, A is total factor productivity, and α and β are the output elasticities of capital and labor respectively.

The specific form of Q = K2L2 is a special case of the Cobb-Douglas production function where α = β = 0.5. However, this is not the only possible form of the function.

The Cobb-Douglas production function always takes the form Q=K2 L2. \text { The Cobb-Douglas production function always takes the form } Q = \mathrm { K } ^ { 2 } \mathrm {~L} ^ { 2 } \text {. } The Cobb-Douglas production function always takes the form Q=K2 L2.

$\text { The Cobb-Douglas production function always takes the form } Q = \mathrm { K } ^ { 2 } \mathrm {~L} ^ { 2 } \text {. }$