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प्रश्न
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.
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उत्तर
Q = 5L + 2K ...........(1)
If L = 0 and K = 10, then putting these values in equation (1)
Q = 5 (0) + 2 (10)
= 20 units of output
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 = 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?
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.
Which statement best describes a production function?
Which of the following is a flow concept?
If only labour can be changed and capital is kept fixed, the firm uses ______.
When all inputs are changed in the same proportion in production, it is known as ______.
Tjalling Koopmans is known for his work on ______.
