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प्रश्न
Let the production function of a firm be Q = 2L2 K2.
Find out the maximum possible output that the firm can produce with 5 units of L and 2 units of K. What is the maximum possible output that the firm can produce with zero unit of L and 10 units of K?
उत्तर
a) Q = 2L2 K2 ............(1)
L = 5 units of labour
K = 2 units of capital
Putting these values in equation (1)
Q = 2 (5)2(2)2
= 2 (25) (4)
Q = 200 units
b) If L = 0 units and K = 100 units
Putting these values in equation (1)
Q = 2 (0)2 (100)2
Q = 0 units
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संबंधित प्रश्न
Define production function.
Distinguish between short run and long run production functions
Explain the concept of a production function.
Let the production function of a firm be `Q=5L^(1/2)K^(1/2)`.
Find out the maximum possible output that the firm can produce with 100 units of L and 100 units of K.
Find out the maximum possible output for a firm with zero unit of L and 10 units of K when its production function is Q = 5L = 2K.
Answer the following question.
What is meant by production function?
The functional relationship between “inputs” and “outputs” is called as
The long-run production function is explained by
A production function measures the relation between
If average product is decreasing, then marginal product
State the production function.
