Meaning Cobb-Douglas
What does Cobb-Douglas mean? Here you find 2 meanings of the word Cobb-Douglas. You can also add a definition of Cobb-Douglas yourself
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Cobb-DouglasA production function relating level of production Q to the input levels of the factors of production (capital K and labor L). A sample Cobb-Douglas function is given by: Q = c Ka Lb where a, b, and c [..]
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Cobb-DouglasA mathematical function that measures the relationship between an output and inputs. (A common version in macroeconomic modelling defines output as a function of capital, labour, and productivity.)
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