Question

    In the widely used Cobb-Douglas production function

    model in agricultural economics, the two main inputs considered are:
    A Cost and capital Correct Answer Incorrect Answer
    B Labour and capital Correct Answer Incorrect Answer
    C Materials and capital Correct Answer Incorrect Answer
    D Labour and land Correct Answer Incorrect Answer
    E Technology and land Correct Answer Incorrect Answer

    Solution

    The Cobb-Douglas production function typically uses labour and capital as the two main factors of production. It demonstrates how output is affected by changes in these inputs, reflecting returns to scale and marginal productivity.

    Practice Next