The Cobb-Douglas production function can be optimized using the fmincon function in MATLAB. The fmincon function is part of the Optimization Toolbox and allows us to minimize a scalar function subject to nonlinear equality and inequality constraints.
Here is an example of how you can use the fmincon function to solve the Cobb-Douglas optimal production function:
main.m706 chars22 lines
In this example, a
is the exponent in the Cobb-Douglas production function, K
is the given value for the sum of the variables x1
and x2
. The fun
variable represents the objective function, and the Aeq
and beq
variables represent the equality constraint.
Note that you need to have the Optimization Toolbox installed to use the fmincon function.
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