What is the C-D production function? Relationship with Douglas production function
It was put forward by mathematician Cobb and economist Douglas in the 1930s. It is considered as a very useful production function. The general form is: q = a * l α * k β, q is output, l and k are labor and capital input respectively, a, α and β are three parameters, and 0 < α, β < 1 is α+β = 60.