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Production function , profit maximization
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Jinx
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Nov 19, 2017; 4:28pm
Production function , profit maximization
A firm has a production function Q=4√x and q is qty. Of output and input respectively. And price of output is 80 per unit and price of input is 20 per unit, then what will be the maximum profit that firm can earn?
soimmoi
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Nov 19, 2017; 7:11pm
Re: Production function , profit maximization
didn't get your question
is this question from some entrance exam
Amit Goyal
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Nov 20, 2017; 12:50am
Re: Production function , profit maximization
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by Jinx
Maximize 80(4√x) - 20 x with respect to x, and you will get
x = 64
Consequently, Q = 32.
Jinx
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Nov 20, 2017; 2:53am
Re: Production function , profit maximization
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by soimmoi
Yes. I found it in sample paper
Jinx
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Nov 20, 2017; 3:09am
Re: Production function , profit maximization
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by Amit Goyal
Thank you sir. I got it.
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