A note on the Cobb-Douglas function

Richard Vale

Papers from arXiv.org

Abstract: This note observes that the Cobb-Douglas function is uniquely characterized by the property that, if the labour share of cost for a constant-returns-to-scale firm remains constant when the firm minimizes its cost for any given output level, then the firm's production function must be Cobb-Douglas.

Date: 2024-11
New Economics Papers: this item is included in nep-eff and nep-mic
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