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# what the hell does this mean? watch

1. Ok i kind of know how to work the question out its just i dont understand one section within the question.

its Production function is Q= 240K^0.2 L^0.6 and facess the budget constraint 600= L+2K, where Q is output, K is capital input and L is labour input.

b) specify the three slope functions of the lagrange function you specified in question a)"

ok so i know how to set up the lagrangean function. But i dont get what this question is asking. it cant be asking for the first order conditions becuase that is asked for in part c and then i know how to work out the Lagrange and the output, etc. Just have no idea what part B is on about!

2. generalbriety where are you? lol someone help me!!!
3. (Original post by qwertyqwerty12)
generalbriety where are you? lol someone help me!!!
Erm, I'm here, but I don't know.
4. I think the three slope functions would be the partial derivatives of your lagrange function wrt K, L, lambda (or whatever variable you're using for the lagrange multiplier, though I've never seen anything other than lambda used) respectively. I would really help if you posted the full question though.
5. Full Question:

A firm has a production function in the form Q= 240K^0.2 L^0.6 and faces the budget constraint 600= L+ 2K, where Q is output, K is capital input and L is labour input.

a) Specify the langrange function ( /\ ) you will use to solve for the maximum level of output (Q*)

b) specify the three slopes functions of the Langrange function you specified in question (a)

c) Specify the three first order conditions and solve for the levels of L* and K* that maximise output

d) Find the value of the lagrange multiplier to two decimal places

e) Find the maximum level of output (Q*) to two decimal places

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