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MICROECONOMICS CH : 7 PRODUCTION FUNTION AND RETURNS TO A FACTOR — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 7 PRODUCTION FUNTION AND RETURNS TO A FACTOR2 Marks
Question
Let us take a production function $Q =3 L^{1 / 3} K ^{1 / 3}$. Find out the maximum possible output that the firm can produce with 125 units of L and 125 units of K.
✓

Answer

Given,
$Q=3 L^{1 / 3} K^{1 / 3}$
$Q=3(125)^{1 / 3}(125)^{1 / 3}$
$=3\left(5^3\right)^{1 / 3}\left(5^3\right)^{1 / 3}$
$=3 \times 5 \times 5$
$=75$
Thus, the maximum output that the firm can produce with 125 units of L and 125 units of K is 75.

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