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August 8th, 2011, 04:28 AM  #1 
Newbie Joined: Aug 2011 Posts: 2 Thanks: 0  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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