StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

The Production Function for Buses - Edgeworth Box - Assignment Example

Comments (0) Cite this document
Summary
The paper "The Production Function for Buses - Edgeworth Box" states that any deviation from the curve will be less effective for the company because with such indicators all the resources are allocated fully and efficaciously providing maximum production of two products…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.9% of users find it useful
The Production Function for Buses - Edgeworth Box
Read TextPreview

Extract of sample "The Production Function for Buses - Edgeworth Box"

Download file to see previous pages Our function will reproduce increasing returns to scale. This means that with an accumulation of production factors volume of produced goods will grow. To find a number of buses with every combination of production factors, it is necessary to substitute each number of employees and the number of machines for K and L indicators. Hence, if a number of machines are 14 and number of employees who make buses is 5, the calculation of production output will be the following: In accordance with above example, we can calculate all the rest level of production. (K=10, L=3): (K=8, L=1): etc. From the table, we can also see that in accordance with the accumulation of employees, the number of produced buses grows. Part (B) Make an ‘Edgeworth box’ diagram for the production of buses in Utropica: put the number of employees making buses on the horizontal axis (0 to 6), and a number of machines used to make buses on the vertical axis (0 to 16). Draw an isoquant line for 5 buses. On the same diagram, add an isoquant for 7 buses, and an isoquant for 10 buses. To draw an ‘Edgeworth box’ diagram for the production of a specific number of buses, it is required to find all combinations of factors that are able to create the stated level of production. Hence, using a table above, it can be seen that 5 buses can be produced by 10 machines and 1 employee or 8 machines and 2 employees. So there are several alternatives for this output. Consequently, finding all possible combinations, we receive points that will form the isoquant line on the diagram. Using the same method, we find combinations of the factors for producing 7 buses. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Microeconomics Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
Microeconomics Essay Example | Topics and Well Written Essays - 1250 words. Retrieved from https://studentshare.org/macro-microeconomics/1443616-microeconomy
(Microeconomics Essay Example | Topics and Well Written Essays - 1250 Words)
Microeconomics Essay Example | Topics and Well Written Essays - 1250 Words. https://studentshare.org/macro-microeconomics/1443616-microeconomy.
“Microeconomics Essay Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/macro-microeconomics/1443616-microeconomy.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The Production Function for Buses - Edgeworth Box

Kidney Function

The blood that carries oxygen and nutrients to each and every cell in the body moves because of pressure supplied by the heart, which is called the blood pressure. The kidneys have a role in this by:
2. Describe how hemoglobin from disintegrating erythrocytes is processed in the body. Explain what is conserved and what is eliminated. Distinguish between unconjugated and conjugated bilirubin, how intestinal bacteria contribute and how urolbilinogen in urine is involved.

The process by which red blood cells are produced is called erythropoiesis. Erythrocytes are continuously being produced in the red bone marrow of large bones. Erythrocytes develop in about 7 days and live a total of about 120 days. The aging cells s...
10 Pages(2500 words)Assignment

Marketing, Financial and Production Analysis of Vail Resorts

Finally, in 1966, the town of Vail was established. By 1985, George Gillett purchased Vail Associates and high-speed quad chairlifts were established to help the skiers get to higher elevations on the mountain. In 1992 Apollo Partners purchased Vail Associates, which in turn became Vail Resorts Inc., which was followed by the acquisition of ski resorts Keystone and Breckenridge. The acquisition of these ski resorts was a major change that helped Vail succeed in the long run by appealing to a broader market. Both Keystone and Breckenridge have lower prices than Vail Mountain and attract more single- and college-aged customers (Vail Resorts).

The company then added the Real Estate segment which comprised 6 percent of the...
9 Pages(2250 words)Case Study

The Role and Function of Stock Market

For each transaction, the stock market plays its role as a defrayal-house which means that it assembles and distributes the shares with an assurance of reimbursement to the customers. Therefore, the illegal influence of counterparty on the transaction is eliminated to an investment whether invested by an investor or corporation. The smooth execution of stock market activities not only helps profitable development at lower costs but also projects the production of the industry as well as employment. Moreover, the inoperative deposits with banks are used for the cultivation of various economic sectors such as agriculture, commerce, and trade. Thus, by playing its vital role in promoting the economic system, it also increases the soc...
22 Pages(5500 words)Assignment

Global Warming and Food Production

The carbon fertilization effect of increased carbon dioxide concentration in the atmosphere has an impact on plant growth, which benefits plant growth by facilitating photosynthesis, cannot balance the complex impact of increased temperatures around the world. Thus, although some regions will benefit from global warming, a total reduction in global agricultural production will result. This essay presents a discussion about the impact of global warming on agriculture and food production around the world.
Although the history of the planet earth suggests that for the last million years ice ages have been interspersed with warmer periods, evidence suggests that the average rate of global warming within the recent past has accele...
14 Pages(3500 words)Assignment

Form and Function of the Shwedagon

Some of the smaller spires (sides) and pavilions are around the base of the central stupa while others are in remote corners of the wide esplanade that encircles the pagoda (as seen in Figures 1-3 below). The platform measuring around 280 by 220 meters was leveled more than 2000 years ago, long before founding the city of Rangoon, which is the present-day Yangon. The spacious pavilion surrounding the pagoda promotes devotees’ engaging in prayer and facilitates their walking around the pagoda, which is part of the worship. The Shwedagon Pagoda road is lined with monasteries, rest houses (zayat), and other pagodas such as the Maha Vijaya opposite the southern stairs (Falconer et al, 2001: 55).
According to the legendary h...
7 Pages(1750 words)Case Study

Production of Lustre Painted Ceramics During the Fatimid Period

Glazed ceramics represent a very small percentage of the total ceramic production during the medieval Muslim world. The majority of domestic earthenware comprised unglazed storage and transport jars for items such as grain, oil and water, and unglazed bowls, platters and receptacles, which were made for the kitchens, pharmacy or the market shop. However, glazed and painted ceramics were highly sought commodities in urban as well as courtly settings2.

Medieval sources refer to pottery or ceramics as Khazar, fakhkhar, and chadar, and the generic term sini is used particularly for fine glazed ceramics. The term sini is derived from the Arabic word for China – al-Sin – since both potters and consumers of the med...
10 Pages(2500 words)Case Study

Production of Monoclonal Antibodies

...Production of Monoclonal Antibodies Over view Antibodies that are produced from a single type of immune cell are called monoclonal antibodies (Kimball, 2007). They are all identical because they are clones of a single parent cell. Monoclonal antibodies are of medical interest now, as they are widely used as diagnostic and research reagents. They can be either used singly or coupled to another molecule to achieve results1. Currently, they are used in the treatment of cancer, transplant rejection, macular degeneration, chronic inflammatory diseases, cardiovascular disease, multiple sclerosis and hepatitis B infection. Though it was Paul Ehrlich who proposed about monoclonal antibodies as early as the beginning of 20th century...
6 Pages(1500 words)Coursework

Impacts of Climate Change on Food Production over the Next 50 Years

...Impacts of Climate Change on Food Production over the Next 50 Years Impacts of Climate Change on Food Production over the Next 50 Years Climate Change The paper explores issues related to the impacts of climate changes on food production over the next fifty years, and this will involve an analysis of the global food production and the risk of food shortages associated with climate conditions. This paper will begin by a discussion of causes of climatic changes, thereby setting a pace for discussion on potential impacts of changes in climate on global food production. This discussion will associate the growth in the world’s population and economic development that have influenced the climate change, and expected responses on agriculture...
6 Pages(1500 words)Term Paper

Econometrics and Cobb-Douglas Function

The coefficients derived from the Cobb-Douglas model are very useful in evaluating the characteristics of a given time series data in econometrics. The coefficients are used to examine characteristics such as elasticity of production and return to scale. 
The individual significance of the variables yields the elasticity of production. The elasticity of production refers to the responsiveness of production to changes in input (capital and labor). The coefficients from the Cobb-Douglas model enable us to understand both the capital elasticity of production and the labor elasticity of production (Greene, 1993).
The capital elasticity of production is given by our model and thus is equal to 0.7489%. This means tha...
12 Pages(3000 words)Research Paper

Production of Knowledge

...Production of knowledge Introduction Knowledge refers to the awareness or understanding that one develops with his or her environment. Ever since time immemorial, humans have always wanted to understand their environment and the people living around them. The desire to understand the environment motivates human to investigate and question the existing facts around the same. This enhances the growth of knowledge since investigation reveals intricate features about the environment and the things existing in the environment. Education and experience are the most cost effective ways of acquiring knowledge1. The two processes entail a series of experiments and observations of the various features of the environment. This validates the argument...
7 Pages(1750 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic The Production Function for Buses - Edgeworth Box for FREE!

Contact Us