Product ID: 99509

Supplementary Print

Undergraduate

A unit that applies calculus to economics and management science. This module develops the Cobb-Douglas Production Function. Students analyze P-K data to estimate parameters and find conditions under which a firm can employ its labor force and capital to maximize its profit. The requisite material on least squares is part of the unit.** Table of Contents:1. INTRODUCTION** 1.1 Background

1.2 Indexes

1.3 The Variables

1.4 The Data

2.2 The Model

2.3 Returns to Scale

2.4 The Individual Contributions of Capital and Labor

3.2 The Cobb-Douglas Parameters

5. REFERENCES

6. ANSWERS TO EXERCISES

©1981 EDC/Project UMAP

UMAP Module

24 pages

- Calculus

- Business & Economics

Basic calculus (partial differentiation and use of the second derivative test for classifying extreme values of function of two variables)

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