Which of the following is a Cobb- Douglas production function?
A)min(K,L)
B)K + L
C)(KL)/2
D)max(K,L)

Question

Quizplus · Accepted Answer

The Cobb-Douglas production function is a mathematical model that describes the relationship between inputs (usually capital and labor) and output (usually GDP or income). It takes the form of Y = AK^aL^b, where Y is output, K is capital, L is labor, A is the total factor productivity, and a and b are the output elasticities with respect to capital and labor, respectively. Option C fits this form by taking the product of K and L raised to the power of 1/2, so it is the only Cobb-Douglas production function among the choices given.

Which of the Following Is a Cobb- Douglas Production Function