Q30 of 30 Page 49

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

The production function is given by –

Q = 5L + 2K


Where,


Q – Output


L – Labour


K – Capital


Given,


L = 0


K = 10


Therefore, Q = 5(0) + 2 (10)


Q = 0 + 20


Q = 20


More from this chapter

All 30 →
26

The following table gives the total cost schedule of a firm. It is also given that the average fixed cost at 4 units of output is Rs 5. Find the TVC, TFC, AVC, AFC, SAC and SMC schedules of the firm for the corresponding values of output.































Q



TC



1



50



2



65



3



75



4



95



5



130



6



185


 27

A firm’s SMC schedule is shown in the following table. The total fixed cost of the firm is Rs 100. Find the TVC, TC, AVC and SAC schedules of the firm.



































Q



SMC



0



-



1



500



2



300



3



200



4



300



5



500



6



800


 28

Let the production function of a firm be

Q = 5L1/2K1/2


Find out the maximum possible output that the firm can produce with 100 units of L and 100 units of K.

 29

Let the production function of a firm be

Q = 2L2K2


Find 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?