Ask Question
9 June, 07:45

A firm has production function f (L, K, M) = L+K2+4M, where L is units of labor, K is units of capital, and M is units of materials. If this firm uses 100 units of labor, 40 units of capital, and 100 units of materials, what is the maximal number of units that they can produce? A firm has production function f (L, K, M) = L+K2+4M, where L is units of labor, K is units of capital, and M is units of materials. If this firm uses 100 units of labor, 40 units of capital, and 100 units of materials, what is the maximal number of units that they can produce?

+3
Answers (1)
  1. 9 June, 08:04
    0
    1800

    Explanation:

    Production Function is the relationship between production inputs & production outputs, given technology. It shows maximum output that can be produced with minimum inputs, given technology.

    Production Function: f (L, K, M) = L + K^2 + 4M

    K = 40, L = 100, M = 100

    Production = 100 + (40) ^2 + 100

    100 + 1600 + 100

    = 1800
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A firm has production function f (L, K, M) = L+K2+4M, where L is units of labor, K is units of capital, and M is units of materials. If ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers