The first appearance of it can be traced back to work on agricultural experiments on the Mecklenburg estate of J. H. von Thunen, though von Thunen's The Isolated State offers a different form of it. One version of it can be applied to modeling utilities with several components, a technique used in supply-side analysis. When its model coefficients sum to one, then it is first-order homogenous, which implies constant returns to scale. Those two coefficients, alpha and beta, are constants determined by technology, and they are exponents of the parameters L and K. Due to its multiplicative form, a consequence of it is that if K is set to zero, then its output is also zero, which implies that there can be no productivity when capital input is zero.  Mapping outputs from capital and labor inputs, FTP, identify this production function populariz
The first appearance of it can be traced back to work on agricultural experiments on the Mecklenburg estate of J. H. von Thunen, though von Thunen's The Isolated State offers a different form of it. One version of it can be applied to modeling utilities with several components, a technique used in supply-side analysis. When its model coefficients sum to one, then it is first-order homogenous, which implies constant returns to scale. Those two coefficients, alpha and beta, are constants determined by technology, and they are exponents of the parameters L and K. Due to its multiplicative form, a consequence of it is that if K is set to zero, then its output is also zero, which implies that there can be no productivity when capital input is zero.  Mapping outputs from capital and labor inputs, FTP, identify this production function popularized by the two men for whom it is named.
The first appearance of it can be traced back to work on agricultural experiments on the Mecklenburg estate of J. H. von Thunen, though von Thunen's The Isolated State offers a different form of it.
Cobb-Douglas production function