[Microéconomie] - Théorie du producteur #2 - Fonction Cobb-Douglas

What is a production function? We can simplify the concept by imagining a black box into which we can input factors of production to obtain a given level of output for goods and services. The black box uses a mathematical function that allows us to model the behavior of the productive firm. For example, to model firms using complementary factors, we can insert a Leontieff function into the black box. In the case of producer theory, we will use a Cobb-Douglas production function because it allows us to combine different types of returns to scale and model firms with substitutable factors. Watch the video for more ;) SUBSCRIBE to my YouTube channel so you don't miss the next videos:    / @geretoneco