Microeconomics

[know]

Given is the Cobb douglas production function: Q=100K√L. Price of unit of work is 10€, and price of unit of capital is 5. If capital investment is fixed on 10€, and the price of a product that company sells is 0.05€.
write the condition of optimal employment
what is the optimal employment of labor
what is the optimal employment of the capital
what is the optimal volume of production
what are the total costs of the company
what is the total income of the company
calculate the maximum profit of the company???

 

[JeffM]

You seem to have the wrong idea about this site. We do not give answers to homework problems. As our name explicitly states, we provide help, often through Socratic questions.

From the firm's standpoint, what do we even mean by optimal employment? What happens if employment is optimal?