arXiv Open Access 2024

A note on the Cobb-Douglas function

Richard Vale

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Abstrak

This note observes that the Cobb-Douglas function is uniquely characterized by the property that, if the labour share of cost for a constant-returns-to-scale firm remains constant when the firm minimizes its cost for any given output level, then the firm's production function must be Cobb-Douglas.

Topik & Kata Kunci

econ.GN

Penulis (1)

Richard Vale

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Vale, R. (2024). A note on the Cobb-Douglas function. https://arxiv.org/abs/2411.08067

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Tahun Terbit: 2024
Bahasa: en
Sumber Database: arXiv
Akses: Open Access ✓