Class 12 Micro Economics - Chapter Production and Costs NCERT Solutions | Let the production function of a firm be
Let the production function of a firm be Q=2 L2 K2Q=2 L2 K2
Find out the maximum possible output that the firm can produce with 5 units of LL and 2 units of KK. What is the maximum possible output that the firm can produce with zero units of LL and 10 units of KK?
(a) Q=2L2K2…..(1)Q=2L2K2…..(1)
L=5L=5 units of labour
K=2K=2 units of capital
Putting these values in equation (1)
Q=2(5)2(2)2Q=2(5)2(2)2
=2(25)(4)=2(25)(4)
Q=200 units Q=200 units
(b) If L=0L=0 units and K=100K=100 units
Putting these values in equation (1)
Q=2(0)2(100)2Q=2(0)2(100)2
Q=0 units
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