Advertisements
Advertisements
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.
Advertisements
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
Define production function.
Distinguish between short-run and long-run production functions.
Explain the concept of a production function.
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.
What is meant by production function?
The functional relationship between “inputs” and “outputs” is called as
The long-run production function is explained by
If average product is decreasing, then marginal product
State the production function.
What is the main feature of inputs in the short run?
Which of the following is a flow concept?
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 ______.
Which one illustrates a long‑run decision for a firm?
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?
