Question

Suppose that qequals30​, Lequals5​, and Kequals15 is a point on the production function qequals​f(L, ​K). Is it posssible for qequals30​, Lequals5​, and Kequals16 to also be a point on this production​ function? Why or why​ not? The combination qequals30​, Lequals5​, and Kequals16

Answer 1

Answer:

No

Step-by-step explanation:

If q=30​, L=5​, and K=15 is a point on the production function q=​f(L, ​K).

Production function is an equation that expresses the relationship between the quantities of factors of production used and the amount of product obtained under the assumption that the most efficient available methods of production are used.

The combination q=30​, L=5​, and K=16 cannot be a point because we assume production functions are efficient.

Answer 2

Answer:

option E is correct which states that cannot be a point because we assume production functions are efficient.