GENERALIZATION OF THE PRODUCTION FUNCTION OF COBB-DOUGLAS TYPE

Abstract

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

Keywords

• cobb-douglas type production function
• production factors
• elasticity
• marginal productivity