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CREATION OF A PRODUCTION FUNCTION OF KOBBA-DOUGLAS ON THE BASIS OF STATISTICAL DATA OF PJSC NLMK
Aleksandrova Alena Vladimirovna1, Galiaskarova Guzelia Rafkatovna2
1Sterlitamak branch of the Bashkir State University, 3rd year student of the faculty of mathematics and information technology
2Sterlitamak branch of the Bashkir State University, Ph.D. (Physics and Mathematics), associate Professor of the Department of applied informatics and programming
1Sterlitamak branch of the Bashkir State University, 3rd year student of the faculty of mathematics and information technology
2Sterlitamak branch of the Bashkir State University, Ph.D. (Physics and Mathematics), associate Professor of the Department of applied informatics and programming
Abstract
Each producer within the production tries to find the best combination of economic resources for acquisition of a bigger production yield. Dependence between release and the consumed amounts of production factors is described by a production function.
Production function shows the maximum possible production depending on amounts of use of production factors. A production function can be applied both to separate firm, and to economy in general. In the first case a production function is capable to show production technologies which the entity for release of the products can use at present; in the second case – to reflect all variety of technologies in society.
In this work a production function of Kobba-Douglas on the basis of statistical data of PJSC Novolipetsk Steel is constructed.
Keywords: capital, elasticity of capital, function of Kobba-Douglas, isoquant, production, production function
Article reference:
Creation of a production function of Kobba-Douglas on the basis of statistical data of PJSC NLMK // Economics and innovations management. 2017. № 1 [Electronic journal]. URL: https://ekonomika.snauka.ru/en/2017/01/13701
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