Question
In: Economics
Of the three pizza-making technologies discussed in relation to the production function, the human technology (i.e.,...
Of the three pizza-making technologies discussed in relation to the production function, the human technology (i.e., Pali the Pizza- maker) appeared to be the least efficient in terms of total factor productivity (TFP) and the frozen pizza production technology appeared to most efficient in terms of TFP. Identify a limitation of using TFP as a measure for evaluating alternative production processes.
Solutions
Rahul Sunny answered 1 year agoRelated Solutions
Of the three pizza-making technologies discussed in relation to the production function, the human technology (i.e.,...
Of the three pizza-making technologies discussed in relation to
the production function, the human technology (i.e., Pali the
Pizza-maker) appeared to be the least efficient in terms of total
factor productivity (TFP) and the frozen pizza production
technology appeared to most efficient in terms of TFP. Identify a
limitation of using TFP as a measure of evaluating alternative
production processes.
The science of ergonomics studies the influence of "human factors” in technology, i.e., how human beings...
The science of ergonomics studies the influence of "human
factors” in technology, i.e., how human beings relate to and work
with machines. With the widespread use of computers for data
processing, computer scientists and psychologists are getting
together to study human factors. One typical study investigated the
productivity of secretaries with different word processing
programs. An identical task was given to 18 secretaries, randomly
allocated to three groups. Group 1 used a primarily menu-driven
program. Group 2 used a command-driven...
A pineapple pizza place is making pizza with a cost function c(y) =10+(y2)/2+3y where y is...
A pineapple pizza place is making pizza with a cost function
c(y) =10+(y2)/2+3y where y is the number of pizza made
.
a) Suppose the restaurant decides to make 10 pizzas, the average
variable cost of making 10 pizza is: $_______
b) The marginal cost of the 10th pizza is: $_______
c) If the restaurant decides to make an additional pizza, the
average variable cost will:
Increase
Decrease
Stay the same
Not enough information to determine
Write out the production function. What do each of the variables in the function represent? (i.e....
Write
out the production function.
What do
each of the variables in the function represent? (i.e. factors that
determine productive capability)
Which
of these factors are key to long term sustainable
growth?
why the production function evaluates the relation between the inputs and outputs is important in the...
why the production function evaluates the relation between the
inputs and outputs is important in the healthcare field.
The production function evaluates the relation between the inputs and outputs is important in the healthcare...
The production function evaluates the relation between the inputs
and outputs is important in the healthcare field.
Name three areas within health care, identify three unique human-technology tools for each of the three...
Name three areas within health care, identify three unique
human-technology tools for each of the three areas and explain how
they might be used.
Describe Woodward's classification of organisational technologies. Explain why each of the three technology groups is related...
Describe Woodward's classification of organisational
technologies. Explain why each of the three technology groups is
related differently to organisational structure and management
processes
4. Suppose a firm’s technology is described by a production function where the quantity produced is...
4. Suppose a firm’s technology is described by a production
function where the quantity produced is equal to the square root of
capital times labor (that is, Q = √(L●K)
a. Using graph paper, draw the isoquant for output = 8
units.
b. Suppose the firm has $128 to spend on its variable inputs and
the price of L and K is $8. On the same graph on which you drew the
isoquant, draw the isocost line. What is the...
(a) Consider a one input production technology utilizing labor that is represented by the function, x...
(a) Consider a one input production technology utilizing labor
that is represented by the function, x = Aln(L) with A>0. Is
the producer’s choice set convex? Show your working.
(b) Find the total cost function associated with this production
technology.
Note: Show all necessary working and steps so that understanding
the solution is easy.
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