units a product can produce?

Question

Assume that a company's Cobb-Douglass Function (both L and C are in thousands) is given below. If the company spends $20,000 on labor and $9,000 on capital expenditure, how many units of its product can it produce?

 

p(l,c)=0.5319L^0.4558 C^0.5442

Answer 1

Since L and C are in thousands, use 20 for L and 9 for C, and just plug them into the function.