Let the production function of a rm be Q = 3L2K2(a) Find out the maxim

1.	Let the production function of a rm be Q = 3L2K2(a) Find out the maximum possible output that the firm can produce with 5 units of L and 3 units of K. (b) What is the maximum possible output that the firm can produce with 10 units of L and zero units of K?
Answer» (a) Q = 3L²K² = 3 x 5² x 3² = 3 x 25 x 9 = 675 (b) Q = 3 L²K² = 3 x 10² x 0² = 0

Let the production function of a rm be Q = 3L2K2(a) Find out the maximum possible output that the firm can produce with 5 units of L and 3 units of K. (b) What is the maximum possible output that the firm can produce with 10 units of L and zero units of K?

Answer»

(a) Q = 3L²K²

= 3 x 5² x 3²

= 3 x 25 x 9 = 675

(b) Q = 3 L²K²

= 3 x 10² x 0² = 0