I. Production and Cost: One Variable Input 1. True/ False 1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be ...

In this paper we consider the specification and estimation of the Cobb-Douglas production function model. After reviewing the "traditional" specifying assumptions for the model which are based on ...

In estimating parameters of the Cobb-Douglas production function, assuming competition and profit maximization, the estimator to be employed depends on the specification of the behavior of the ...

Abstract: The knowledge production function is central to research and development–based growth models. This paper empirically investigates the knowledge production function and intertemporal ...