Economics · Economics

Which of the following is a characteristic of the Cobb-Douglas production function?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1If inputs are increased by a factor of 2, output also increases by a factor of 2.
2The elasticity of substitution is equal to one.
3If the quantity of either labor or capital is zero, total production will be zero.
4All of the above✓

Correct answer

All of the above

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