Suppose that qequals30, Lequals5, and Kequals15 is a point on the production function qequalsf(L, K). Is it posssible for qe
quals30, Lequals5, and Kequals16 to also be a point on this production function? Why or why not? The combination qequals30, Lequals5, and Kequals16
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.
