What is a Cobb-Douglas Function?

The Cobb-Douglas function has many applications in economics; from being a well-behaved preference in microeconomics to a production function in macroeconomics. It is named after Paul Douglas, an American Congressmen who was researching labour and capital shares and asked Charles Cobb, a mathematician, for help in formulating this into a function. In this article we Read more about What is a Cobb-Douglas Function?[…]