Modeling Sustainable Economic Development Using Production Functions

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dc.contributor.authorYankovyi, Oleksandr
dc.contributor.authorKoval, Viktor
dc.contributor.authorLazorenko, Larysa
dc.contributor.authorPoberezhets, Olha V.
dc.contributor.authorNovikova, Marina
dc.contributor.authorGonchar, Viktoriya
dc.contributor.authorПобережець, Ольга Валеріївна
dc.contributor.authorПобережец, Ольга Валерьевна
dc.date.accessioned2021-12-16T11:49:06Z
dc.date.available2021-12-16T11:49:06Z
dc.date.issued2021
dc.description.abstractThe most popular two-factor production functions used in the process of modeling sustainable economic development are examined. Economic and mathematical characteristics of Cobb-Douglas production functions, CES-function, linear function, Leontief and Allen functions are considered, in particular, type of dependence of labour productivity in relation to capital-labour ratio of commodity production system within mentioned production functions. Their most important economic and mathematical characteristics are presented: factors average and marginal return, demand for production resources, factor substitution, factors marginal rate of technical substitution, output elasticity by factors, elasticity of factors technical substitution, optimal capital-labour ratio according to the criterion of maximum output. Comparative analysis is given to Cobb-Douglas and CES-functions, which are two production functions mostly required in practice.uk_UA
dc.identifier.citationStudies of Applied Economicsuk_UA
dc.identifier.doihttps://doi.org/10.25115/eea.v39i5.5090
dc.identifier.urihttps://dspace.onu.edu.ua/handle/123456789/32030
dc.language.isoenuk_UA
dc.relation.ispartofseries;Vol. 39, № 5.
dc.subjectlabour productivityuk_UA
dc.subjectcapital-labour ratiouk_UA
dc.subjectproduction functionsuk_UA
dc.subjectsustainable economic developmentuk_UA
dc.titleModeling Sustainable Economic Development Using Production Functionsuk_UA
dc.typeArticleuk_UA
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