Question
In: Economics
Regarding the “optimal length of time” for the production process to go for ….. What can...
Regarding the “optimal length of time” for the production process to go for ….. What can you tell me about the optimal length of time associated with: (1) the case when you take into account for time WITH time preferences BUT without risk and uncertainty considerations, and (2) the case when you take into account for time WITH time preferences AND with risk and uncertainty considerations. Which optimal length of time FOR (1) OR (2) is longer/shorter? Briefly EXPLAIN WHY IS THIS SO!
Solutions
Expert Solution
In 1st case -
When you take into account for time WITH time preferences BUT without risk and uncertainty considerations , the "optimal lenght of time " for production process will be shorter because we are not taking decisions in production process regarding risk management in future .So , a lot of time saves because we are not taking decisions for risk management in future. So the optimal lenght of time will be shorter.
In 2nd case -
when you take into account for time WITH time preferences AND with risk and uncertainty considerations , " the optimal lenght of time " for production process will be longer because we are also taking decisions regarding risk management in future like how to overcome with risk if it comes etc. It will consume a lot of time. Due to which the optimal lenght of time will be longer .
Rahul Sunny answered 1 year agoRelated Solutions
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of the ocean? That depends on the depth of the dive. The U.S. Navy
has done a lot of research on this topic. The Navy defines the
"optimal time" to be the time at each depth for the best balance
between length of work period and decompression time after
surfacing. Let x = depth of dive in meters, and let
y = optimal time in hours....
What is the optimal time for a scuba diver to be on the bottom of the...
What is the optimal time for a scuba diver to be on the bottom
of the ocean? That depends on the depth of the dive. The U.S. Navy
has done a lot of research on this topic. The Navy defines the
"optimal time" to be the time at each depth for the best balance
between length of work period and decompression time after
surfacing. Let x = depth of dive in meters, and let
y = optimal time in hours....
What is the optimal time for a scuba diver to be on the bottom of the...
What is the optimal time for a scuba diver to be on the bottom
of the ocean? That depends on the depth of the dive. The U.S. Navy
has done a lot of research on this topic. The Navy defines the
"optimal time" to be the time at each depth for the best balance
between length of work period and decompression time after
surfacing. Let x = depth of dive in meters, and let y = optimal
time in hours....
What is the optimal time for a scuba diver to be on the bottom of the...
What is the optimal time for a scuba diver to be on the bottom
of the ocean? That depends on the depth of the dive. The U.S. Navy
has done a lot of research on this topic. The Navy defines the
"optimal time" to be the time at each depth for the best balance
between length of work period and decompression time after
surfacing. Let x = depth of dive in meters, and let
y = optimal time in hours....
What is the optimal time for a scuba diver to be on the bottom of the...
What is the optimal time for a scuba diver to be on the bottom
of the ocean? That depends on the depth of the dive. The U.S. Navy
has done a lot of research on this topic. The Navy defines the
"optimal time" to be the time at each depth for the best balance
between length of work period and decompression time after
surfacing. Let x = depth of dive in meters, and let
y = optimal time in hours....
What is the optimal time for a scuba diver to be on the bottom of the...
What is the optimal time for a scuba diver to be on the bottom
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between length of work period and decompression time after
surfacing. Let x = depth of dive in meters, and let
y = optimal time in hours....
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of the ocean? That depends on the depth of the dive. The U.S. Navy
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between length of work period and decompression time after
surfacing. Let x = depth of dive in meters, and let y = optimal
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