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August 8th, 2011, 04:28 AM   #1
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Production Function

Hey,
I've been given the following question and I'm just looking for any help as to whether I'm going in the right direction with my workings or if I've got it completely wrong:

Find the production function when the firm wants to produce 500 units of its good based on the following information,
where Q= 10K^.5L^.5 where MPL = 5?(K/L) and MPK = 5?(L/K)
where labour = 10 and capital =15

so far my workings are as follows:

MPl=5?(K/L)=5?(15/10)=6.1237
MPk=5?(L/K)=5?(10/15)=4.0824
Q=10K^(.5) L^(.5)
Q=10 x ?6.1237?^(.5) x ?4.0824?^(.5)
Q=49.999393



Thanks in advance
Cat
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