Cobb-Douglas Production Functions

Cobb-Douglas functions are frequently used in economics to show the relationship between input factors and the level of production. This family of functions takes on the form , where ℓ is one factor of production (often labor) and is the second factor of production (often capital). The sum of the exponents determines the returns to scale on factor inputs. This Demonstration visualizes Cobb-Douglas functions by letting the user select the input exponents and as well as a scaling factor . You can also select whether the resulting production function is to be displayed as a contour plot or as a three-dimensional plot.