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Economics Homework Help
5. A firm is required to produce 50 units of output using
quantities of labor and capital (LK) = (38). For each
of the following production functions, state whether it is
possible to produce the required output with the given
input combination. If it is possible, state whether pro-
ducing Q = 50 with input combination is technically ef-
cient or inecient.
a) Q = 8L + 4K
b) Q = 10KL1/2
c) Q = min {17L7K}
d) Q = 2KL + L - 6
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