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- Asked by Kapil
- Latest Answer: 92 days ago
- In: Commerce
The production function of a firm is given by 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 the firm can possible with zero (0) units of L and 10 units of K?
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- Asked by Kapil
- Latest Answer: 92 days ago
- In: Commerce
What do you mean by fixed factor and variable factor of production? Give Examples.
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- Asked by Kapil
- Latest Answer: 92 days ago
- In: Commerce
Explain the relation between AP and MP with the help of suitable diagram.
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- Asked by Kapil
- Latest Answer: 92 days ago
- In: Commerce
State the reasons behind the working of the law of diminishing marginal product.
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