A Cobb-Douglas production function models the relationship between output and production inputs (also known as factor inputs). It is used to calculate ratios of inputs to one another for efficient ...

In practical multi-attribute procurement auctions, the profit and winning a contract have different importance to the suppliers. This paper assumes that the suppliers weight the profit and probability ...

In this paper we derive the exact distribution of the indirect least squares estimator of the coefficients of the Cobb-Douglas production function within the context of a stochastic production model ...

Economics Terms Exercise - Utility Maximization Consider an individual who is deciding to spend $40 on either coffee or snacks. A cup of coffee (x1) costs $2, while a bag of snacks (x2) costs $0.50.

Factor demand and output supply functions formulated within the framework of the Cobb-Douglas profit function have been widely used for the study of technological and production behavior of the farm ...