In economics, the Cobb-Douglas production function is widely used to represent the relationship between the amounts of two or more inputs a firm uses and the amount of output produced by those inputs. The most standard form of the Cobb-Douglas production function for firm i is defined as follows: Q = A x L^α x C^β where Q = total production of firm i, L = labor input of firm i, C = capital input (e.g., the sum of machinery, equipment, and buildings) of firm i, A = total factor productivity, and α and β are the output elasticities of labor and capital, respectively.