Optimization of Cobb-Douglas Function

Initializing live version
Download to Desktop

Requires a Wolfram Notebook System

Interact on desktop, mobile and cloud with the free Wolfram Player or other Wolfram Language products.

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




Feedback (field required)
Email (field required) Name
Occupation Organization
Note: Your message & contact information may be shared with the author of any specific Demonstration for which you give feedback.