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प्रश्न
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.
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उत्तर
`Q=5L^(1/2)K^(1/2)................(1)`
L = 100 units of labour
K = 100 units of capital
Putting these values in equation (1)
`Q = 5(100)^(1/2)(100)^(1/2)`
= 5(10)(10)
= 500 units
Thus, the maximum possible output that he firm can produce is 500 units.
संबंधित प्रश्न
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When all inputs are changed in the same proportion in production, it is known as ______.
Which law is studied with the short‑run production function Q = f(L)?
Tjalling Koopmans is known for his work on ______.
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What is the dependent variable in the production function Qx = f(f1, f2, ..., fn)?
Returns to scale is the main law studied in which production function?
