Application of the Cobb-Douglas Production Function Analysis and Forecasting in Agricultural Enterprises
DOI:
https://doi.org/10.31150/ajshr.v3i4.1017Keywords:
Economic and statistical modeling, statistical models, production function, Cobb-Douglas production functionAbstract
In economic-statistical modeling, the relationship between economic performance and factors of production can be shown as a function of production. The article analyzes the process of modeling agricultural production and the relationship between the volume of agricultural production and agricultural machinery. In the article, this relationship is also illustrated using a multilevel function (a production function similar to the Cobb-Douglas function).
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