WOLFRAM NOTEBOOK

WOLFRAM|DEMONSTRATIONS PROJECT

Cobb-Douglas Production Functions

​
scaling factor
0.5
k
0.5
ℓ
Cobb-Douglas Production Function
method
ContourPlot
Plot3D
Cobb-Douglas functions are frequently used in economics to show the relationship between input factors and the level of production. This family of functions takes on the form
a
α
ℓ
β
k
, where ℓ is one factor of production (often labor) and
k
is the second factor of production (often capital). The sum of the exponents
α+β
determines the returns to scale on factor inputs. This Demonstration visualizes Cobb-Douglas functions by letting the user select the input exponents
α
and
β
as well as a scaling factor
a
. You can also select whether the resulting production function is to be displayed as a contour plot or as a three-dimensional plot.
Wolfram Cloud

You are using a browser not supported by the Wolfram Cloud

Supported browsers include recent versions of Chrome, Edge, Firefox and Safari.


I understand and wish to continue anyway »

You are using a browser not supported by the Wolfram Cloud. Supported browsers include recent versions of Chrome, Edge, Firefox and Safari.