A Generalization of Some Production Functions
AbstractIn this paper we shall give a generalization of Cobb-Douglas, CES, Lu-Fletcher, Liu-Hildebrand, VES, Kadiyala production functions. We compute the principal indicators like the marginal products, the marginal rate of substitution, the elasticities of factors and the elasticity of substitution. Finally we formulate two theorems of characterization for the functions with a proportional marginal rate of substitution and for those with constant elasticity+ of substitution (for n=1).
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Bibliographic InfoArticle provided by Danubius University of Galati in its journal ACTA UNIVERSITATIS DANUBIUS. OECONOMICA.
Volume (Year): (2010)
Issue (Month): 1(1) (March)
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Web page: http://journals.univ-danubius.ro/index.php/oeconomica/
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production functions; Cobb-Douglas; CES; Lu-Fletcher; Liu-Hildebrand; VES; Kadiyala;
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