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The Cobb Douglas Production Function: Definition, Formula & Example

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following is NOT a factor of production?

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1. What are the two primary inputs to the Cobb-Douglas production function?

2. In the Cobb-Douglas production function, what is the term for the change in output that results from one additional unit of an input?

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About This Quiz & Worksheet

Use these quiz/worksheet questions to make sure you know how the Cobb-Douglas production function works. You will be quizzed on the inputs of this function and related vocabulary terms.

Quiz & Worksheet Goals

Answer these questions to see if you understand:

  • The factors of production
  • The name for how the change in output is measured after a change in efficiency
  • The primary inputs for the Cobb-Douglas function

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the lesson, such as what the change in output related to single unit change in input is called
  • Information recall - access the knowledge you've gained regarding the factors of production
  • Knowledge application - use your knowledge to answer questions about different measurements used to show changes in output based on changing variables

Additional Learning

To find out more about this economic formula, view the lesson titled The Cobb Douglas Production Function: Definition, Formula & Example. This lesson will explain:

  • The purpose of a production function
  • Output elasticity
  • The developers of this function
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