The production function of a firm is given as Q = L½.K½ Calculate the level of output (Q) when it employees 25 units of labour (L) and 9 units of capital (K).

Question

&nbsp;Q = 5L1/2K1/2 ....Equation (1)L = 100 units of labourK = 100 units of capitalPutting these values in equation (1)Q...

Accepted Answer

&nbsp;Q = 5L1/2K1/2 ....Equation (1)L = 100 units of labourK = 100 units of capitalPutting these values in equation (1)Q...