[amp_mcq option1=”Capital and labour” option2=”Labour and entrepreneur” option3=”Land and labour” option4=”Land and capital” correct=”option1″]<\/p>\n
The correct answer is: A. Capital and labour<\/p>\n
A Cobb-Douglas production function is a mathematical function that describes the relationship between the inputs (capital and labor) and the output of a production process. The function is named after Charles Cobb and Paul Douglas, who developed it in the early 20th century.<\/p>\n
The Cobb-Douglas production function is a widely used model in economics. It is used to estimate the relationship between inputs and outputs in a variety of industries, including manufacturing, agriculture, and services. The function is also used to make predictions about the future performance of an industry or economy.<\/p>\n
The Cobb-Douglas production function is a simple but powerful tool. It can be used to understand the basic economics of production and to make predictions about the future.<\/p>\n
The other options are incorrect because they do not accurately reflect the focus of the Cobb-Douglas production function. Option B, Labour and entrepreneur, is incorrect because the Cobb-Douglas production function does not explicitly consider the role of entrepreneurs. Option C, Land and labour, is incorrect because the Cobb-Douglas production function does not explicitly consider the role of land. Option D, Land and capital, is incorrect because the Cobb-Douglas production function does not explicitly consider the role of capital.<\/p>\n","protected":false},"excerpt":{"rendered":"
[amp_mcq option1=”Capital and labour” option2=”Labour and entrepreneur” option3=”Land and labour” option4=”Land and capital” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-57135","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"\n