LTE Standard has been an inseparable part of 3GPP that was started with an objective to upgrade 3G based Mobile Systems to 4G.This standard has been developed to enhance the data rate, reliability and seamless connectivity to the users. There is a need to evaluate the achievable performance through this standard in terms of MAC parameters. Moreover, in order to optimize the resources like Power and Bandwidth, Extensive Simulations have been done here considering the Medium Access techniques like Channel estimation, Retransmission techniques and Scheduling techniques. Two Scenarios have been designed by considering diverse Conditions of Physical Layer Resources. Optimal Performance bounds have been obtained in terms of BLER and throughput for the proposed Scenarios.