Anatomy of Cobb-Douglas Production/Utility Functions in 3D (original) (raw)

Anatomy of C-D Production/Utility Functions in Three Dimensions

Decreasing returns to scale

(Strongly concave production/utility function)

Constant returns to scale

(Weakly concave production/utility function)

Increasing returns to scale with diminishing marginal product/utility

(Quasiconcave production/utility function)

Increasing returns to scale with constant marginal product/utility

(Quasiconcave production/utility function)

Increasing returns to scale with increasing marginal product/utility

(Quasiconcave production/utility function)

Non-symmetric production/utility function with constant returns to scale

Non-symmetric production/utility function with increasing returns to scale

Profit maximization: production function with decreasing returns to scale

Profit maximization: production function with constant returns to scale

Utility maximization: utility function with decreasing returns to scale

Utility maximization: utility function with increasing returns to scale

Expenditure minimization: utility function with constant returns to scale

Literature and further reading:

The Structure of Economics, 3rd ed., Eugene Silberberg
MATLAB Documentation, MathWorks