Widgets are produced according to the production function: F(K,L)= 2K+L. If K = 10 how much L is needed to produce 100 widgets?
A)70
B)60
C)80
D)40

Question

Quizplus · Accepted Answer

We can use the production function F(K,L) = 2K + L to solve for the amount of L needed to produce 100 widgets when K = 10.

Setting F(K,L) = 100 and K = 10, we have:

100 = 2(10) + L

Simplifying:

100 = 20 + L

L = 80

Therefore, we need 80 units of labor (L) to produce 100 widgets when we have 10 units of capital (K).

So the best choice is C.

Widgets Are Produced According to the Production Function: F(K,L)= 2K+L