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  2. Cobb–Douglas production function - Wikipedia

    en.wikipedia.org/wiki/Cobb–Douglas_production...

    Paul Douglas explained that his first formulation of the Cobb–Douglas production function was developed in 1927; when seeking a functional form to relate estimates he had calculated for workers and capital, he spoke with mathematician and colleague Charles Cobb, who suggested a function of the form Y = AL β K 1−β, previously used by Knut Wicksell, Philip Wicksteed, and Léon Walras ...

  3. Production function - Wikipedia

    en.wikipedia.org/wiki/Production_function

    Other forms include the constant elasticity of substitution production function (CES), which is a generalized form of the Cobb–Douglas function, and the quadratic production function. The best form of the equation to use and the values of the parameters ( a 0 , … , a n {\displaystyle a_{0},\dots ,a_{n}} ) vary from company to company and ...

  4. Growth accounting - Wikipedia

    en.wikipedia.org/wiki/Growth_accounting

    The production functions are understood and formulated differently in growth accounting and management accounting. In growth accounting the production function is formulated as a function OUTPUT=F (INPUT), which formulation leads to maximize the average productivity ratio OUTPUT/INPUT.

  5. List of production functions - Wikipedia

    en.wikipedia.org/wiki/List_of_production_functions

    This is a list of production functions that have been used in the economics literature. Production functions are a key part of modelling national output and national income . For a much more extensive discussion of various types of production functions and their properties, their relationships and origin, see Chambers (1988) [ 1 ] and Sickles ...

  6. Mathematical economics - Wikipedia

    en.wikipedia.org/wiki/Mathematical_economics

    In the simplest case, an optimization problem involves maximizing or minimizing a real function by selecting input values of the function and computing the corresponding values of the function. The solution process includes satisfying general necessary and sufficient conditions for optimality .

  7. Production (economics) - Wikipedia

    en.wikipedia.org/wiki/Production_(economics)

    The production function is a graphical or mathematical expression showing the relationship between the inputs used in production and the output achieved. Both graphical and mathematical expressions are presented and demonstrated. The production function is a simple description of the mechanism of income generation in production process.

  8. FEMA employee fired for urging team to not help homes with ...

    www.aol.com/news/fema-employee-fired-urging-team...

    The U.S. Federal Emergency Management Agency - whose mission is to help people before, during and after disasters - fired an employee who advised her survivor assistance team in Florida to not go ...

  9. Leontief production function - Wikipedia

    en.wikipedia.org/wiki/Leontief_production_function

    Two input Leontief Production Function with isoquants. In economics, the Leontief production function or fixed proportions production function is a production function that implies the factors of production which will be used in fixed (technologically predetermined) proportions, as there is no substitutability between factors.