Cobb-Douglas Production Function Example

Cobb-Douglas Production Function Differentiation Example

Given the basic form of the Cobb-Douglas production function, we'll find the partial derivatives with respect to capital, K, and labor, L. Thereby finding the marginal products of capital and labor. Starting with Cobb-Douglas production function: Y=F(K,L)=AK^α L^(1-α) Derivative of output w.r.t. Labor, then differentiation of production with ...

350.7K viewsOct 10, 2012

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