A Generalization of Some Production Functions

Catalin Angelo Ioan

Acta Universitatis Danubius. OEconomica, 2010, issue 1(1), 110-123

Abstract: In this paper we shall give a generalization of Cobb-Douglas, CES, Lu-Fletcher, Liu-Hildebrand, VES, Kadiyala production functions. We compute the principal indicators like the marginal products, the marginal rate of substitution, the elasticities of factors and the elasticity of substitution. Finally we formulate two theorems of characterization for the functions with a proportional marginal rate of substitution and for those with constant elasticity+ of substitution (for n=1).

Keywords: production functions; Cobb-Douglas; CES; Lu-Fletcher; Liu-Hildebrand; VES; Kadiyala (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:dug:actaec:y:2010:i:1:p:110-123

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