Economics · Production and Costs

In a linear homogeneous Cobb-Douglas production function Q=AL α K β , what is the value of the sum of exponents (α+β)?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Less than zero
2Greater than one
3One✓
4Zero

Correct answer

One

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In a linear homogeneous Cobb-Douglas production function Q=AL α K β , what is the value of the sum of exponents (α+β)?

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In a linear homogeneous Cobb-Douglas production function Q=AL α K β , what is the value of the sum of exponents (α+β)?

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