Optimization of Cobb-Douglas Function

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Using Lagrange multipliers, this Demonstration allows you to manipulate all aspects of both the Cobb–Douglas and isocost functions while viewing how this affects the allocation of labor and capital for optimal production. To show how the isoquant curve is truly three-dimensional, the Demonstration also displays the production function as a 3D surface plot.

Contributed by: Amir Ahmadi and Tom Creahan (March 2011)

Open content licensed under CC BY-NC-SA


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