The Journal of Accounting and Management, Vol 4, No 2 (2014)

Generalized Cobb-Douglas function for three inputs and linear elasticity

Catalin Angelo IOAN, Gina IOAN

Abstract


The article deals with a production function of three factors with constant scale return where each elasticity of two of the factors is a function of first degree. After the examination of parameters conditions according to the axioms of the production functions, there are computed the main indicators. Also, the combination of factors is determined in order to maximize the total output under a given cost.


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