Technical Note: Properties of the Cubic Production Function

James Yunker

The Engineering Economist, 2012, vol. 57, issue 3, 206-220

Abstract: In the interest of improving the understanding of both students and practitioners of technical economics of some fundamental aspects of the subject, this note provides a clarification of the isoquant properties of the two-input cubic production function. Two alternatives to the “usual” cubic production function are proposed herein: the “additive” and the “multiplicative.” In contrast to the usual function, both of these alternatives possess the intuitively expected isoquant properties: the three-dimensional surface of the function is a “hill” or “protuberance” with a unique peak, and the corresponding family of isoquants is a set of closed oblongs reminiscent of a contour map.

Date: 2012
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DOI: 10.1080/0013791X.2012.702196

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