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CUET
Economics
Micro Economics: Production and Costs
Let the production function of a firm be Q = 5$L^2K^2$. Calculate output it employs 5 units of labour and 2 units of capital.
300
500
250
130
The correct answer is option 2: 500
Putting L= 5 and K=2, we get 5*25*4 = 500.
