Let the production function of a firm be Q = 2L2K2Find out the maximum

1.	Let the production function of a firm be Q = 2L2K2Find 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?
Answer» (a) Q = 2L²K².....(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

Let the production function of a firm be Q = 2L2K2Find 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?

Answer»

(a) Q = 2L²K².....(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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Let the production function of a firm be Q = 2L2K2Find 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?

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