Match List-I with List-II:
| List-I | List-II | ||
|---|---|---|---|
| (A) | Q = 5L1/2K1/2 with L = 36 and K = 36 | (I) | 180 |
| (B) | Q = 2L2K2 with L = 2 and K = 1 | (II) | 5 |
| (C) | Q = 5L + 2K with L = 4 and K = 10 | (III) | 8 |
| (D) | Q = 5L + 2K in the short run with K fixed at 10: rise in output when L rises from 4 to 5 | (IV) | 40 |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → (A)-(I), (B)-(III), (C)-(IV), (D)-(II)
Put the given amounts of L and K into each function. In the short run, K stays fixed, so only the labour term changes.
| List-I | List-II | Reason |
|---|---|---|
| (A) Q = 5L1/2K1/2 with L = 36 and K = 36 | (I) 180 | 5 × 361/2 × 361/2 = 5 × 6 × 6 = 180. |
| (B) Q = 2L2K2 with L = 2 and K = 1 | (III) 8 | 2 × 22 × 12 = 2 × 4 × 1 = 8. |
| (C) Q = 5L + 2K with L = 4 and K = 10 | (IV) 40 | 5 × 4 + 2 × 10 = 20 + 20 = 40. |
| (D) Q = 5L + 2K in the short run with K fixed at 10: rise in output when L rises from 4 to 5 | (II) 5 | With K = 10, output goes from 40 to 25 + 20 = 45, a rise of 5. |
NCERT (2026-27): “3.2 The Short Run and the Long Run … In the short run, at least one of the factor – labour or capital – cannot be varied, and therefore, remains fixed. In order to vary the output level, the firm can vary only the other factor. The factor that remains fixed is called the fixed factor whereas the other factor which the firm can vary is called the variable factor.” |