Cobb-Douglas Production Function Calculator

Your details

A positive constant capturing productivity from factors beyond labor and capital, such as technology and management quality. Also called the Solow residual or TFP.
Total quantity of labor input. Units can be worker-hours, number of employees, or any consistent labor measure.
The percentage change in output for a 1% increase in labor, holding capital fixed. Classic empirical estimates for developed economies cluster around 0.65 to 0.75.
Total quantity of capital input. Units can be machine-hours, dollars of equipment, or any consistent capital measure.
The percentage change in output for a 1% increase in capital, holding labor fixed. In a constant-returns economy, alpha + beta = 1.
Total Production (Y)Constant Returns
81.2252

Output: A x L^α x K^β

Returns to ScaleConstant returns to scale
α + β (Scale Sum)1
Marginal Product of Labor (MPL)0.5686
Marginal Product of Capital (MPK)0.4874
MRTS (L for K)1.1667
Labor Income Share0.7%
Capital Income Share0.3%
MPL0.5686
MPK0.4874

Total production: 81.2252 units

  • Total production is 81.2252 units with alpha + beta = 1.0000 (constant returns to scale).
  • One additional unit of labor adds 0.5686 units of output; one additional unit of capital adds 0.4874 units.
  • The MRTS is 1.1667: to keep output constant, 1.1667 units of capital must be added for every unit of labor removed.

Next stepConstant returns to scale means doubling all inputs exactly doubles output, the standard assumption in many macroeconomic models.

 = Powered by OnlyCalculators