Form of Production Function | Fixed-Proportions, Cobb-Douglas, CES | Harpreet Kaur | Ecoholics скачать в хорошем качестве

Form of Production Function | Fixed-Proportions, Cobb-Douglas, CES | Harpreet Kaur | Ecoholics

What is production function? Production Function, in economics, equation that expresses the relationship between the quantities of productive factors (such as labour and capital) used and the amount of product obtained. 1. Cobb-Douglas Production Function: Cobb-Douglas production function refers to the production function in which one input can be substituted by other but to a limited extent. For example, capital and labor can be used as a substitute of each other, but to a limited extent only. Cobb-Douglas production function can be expressed as follows: Q = AKaLb 2. Leontief Production Function: Leontief production function uses fixed proportion of inputs having no substitutability between them. It is regarded as the limiting case for constant elasticity of substitution. q= min (z1/a, Z2/b) 3. CES Production Function: CES stands for constant elasticity substitution. CES production function shows a constant change produced in the output due to change in input of production. Q = A [aKβ + (1-a) L-β]-1/β Ecoholics is the largest platform for economics. Download our app: http://ecoholics.in/mobile-app/ Visit our website for further information and resources: http://ecoholics.in/ To Subscribe for Courses - https://subscription.ecoholics.in/ Reach out to us on Whatsapp for further information: https://wa.me/917880107880 If you’re preparing for competitive exams like UPSC IES, RBI DPER or UGC NET then Ecoholics is the one-stop destination for all your learning needs. Study economics the smart way and get an in-depth understanding of this dynamic subject with our holistic approach. Our team of expert faculties help you polish your knowledge and provides you with one-on-one mentorship and doubt-clearing sessions, so you leave no stone unturned when it comes to your preparation. By signing up with us, you can access our live classes, video lectures, test series and get the hard copy of study material delivered to your doorstep, so your preparation never hits a bump! Follow our social media handles to stay updated on all things economics. Follow Ecoholics on Twitter-   / ecoholics_in   Follow Ecoholics Facebook Group -   / 41907.  . Follow Ecoholics Facebook Page -   / ecoholics8   Follow Ecoholics on Instagram:   / ecoholics.in   Follow Ecoholics on Telegram: https://t.me/ecoholicsbysanat Become a Member of Largest Community of Economics: https://ecoholics.in/become-a-member/ #productionfunction #CobbDouglasProductionFunction #LeontiefProductionFunction #CESProductionFunction #economics #economic #economists #upsc #rbi #indianeconomicsservice #ias #iitjam #gateeconomics #ugcnet #ugc #jrf #economy #unionpublicservicecomission #ignou #dse #jnu #maentrance #pgentrance