A production function of the form is a(n)
A) isoquant function
B) Cobb-Douglas production function
C) fixed-proportions function
D) perfect compliments function

Question

A production function of the form  is a(n)
A) isoquant function 
B) Cobb-Douglas production function 
C) fixed-proportions function 
D) perfect compliments function

Quizplus · Accepted Answer

The Cobb-Douglas production function has the form Y = A*K^alpha * L^beta, where Y is output, A is total factor productivity, K is capital input, L is labor input, and alpha and beta are the output elasticities of capital and labor, respectively. The production function given in the question has a similar form, which suggests that it is a Cobb-Douglas production function.

A Production Function of the Form Is A(n)