Calculating output, The hourly wage rate is $6, hourly

Calculating output

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Reference no: EM1372015

The hourly wage rate is $6, the hourly rentail rate for capital is $8. The production function I found to be q=10K^.5L^.5 The captital if fixed at 225 hours in the short-run. I am trying to figure out how much output can be produced with 400 hours of labor? I would just plug in numbers but I dont know the relevance the $6 and the $8 have and how I could put that in an equation?

Reference no: EM1372015

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