The Cobb-Douglas Function is a mathematical model used in economics to represent the relationship between two or more inputs, typically labor and capital, and the output produced. It is expressed in the form Y = A \cdot L^\alpha \cdot K^\beta, where Y is the total output, A is a constant, L is labor input, K is capital input, and \alpha and \beta are the output elasticities of labor and capital, respectively. This function is significant because it assumes that the production process exhibits constant returns to scale, meaning that if inputs are increased by a certain percentage, output will increase by the same percentage. The Cobb-Douglas Function is widely used in economic analysis and helps in understanding how changes in input levels affect overall production efficiency.