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An argument for the use of the square-root functional form in teaching undergraduate microeconomics

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  • Sproule, Robert

Abstract

The present paper has two objectives, both of which are purely pedagogical in nature. The first is to propose a competitor to the conceptual “workhorse” of economics, the Cobb–Douglas functional form. Our competitor is a special case of the square-root functional form. The second objective is to employ our special case as the foundation for a much-needed overview or roadmap to a large expanse of producer and consumer theory.

Suggested Citation

  • Sproule, Robert, 2015. "An argument for the use of the square-root functional form in teaching undergraduate microeconomics," International Review of Economics Education, Elsevier, vol. 20(C), pages 37-45.
    • Handle: RePEc:eee:ireced:v:20:y:2015:i:c:p:37-45
    DOI: 10.1016/j.iree.2015.10.002
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    Cited by:

    1. Sproule, Robert, 2023. "The Anomalies Of The Wold-Juréen (1953) Functional Form In Overview," MPRA Paper 117835, University Library of Munich, Germany.

    More about this item

    Keywords

    Cobb–Douglas functional form; Square-root functional form; Unconditional demand function; Supply function; Profit function; Hotelling’s Lemma; Conditional demand function; Expenditure function; Shephard’s Lemma; Indirect profit function; Roy’s Identity;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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