Free

# Functional Relationships - Assignment Example

Summary
However, there are variable inputs that are used in the production such as labor and fuel. This curve shows the relationship between input and output. Production of goods y is possible…

## Extract of sample "Functional Relationships"

Production Function Independent variable x. dependent variable y The curve shows the quantity of goods y produced as input x .represented by equation y=f(x). However, there are variable inputs that are used in the production such as labor and fuel. This curve shows the relationship between input and output. Production of goods y is possible with two inputs, this result in partial production function. The function has one variable input and the rest are assumed to be fixed at a certain amount.
The output x is attached is attached to every value of y outputs amounts produced by these input. Points below the curve are also part of the quantity produced, this points represent inefficient production. Therefore production function interlink inputs and outputs as in the case provided.
Phenomena/Situation
Taking for example the industrial production of sugar at a sugar mill. For production of sugar several inputs are required for production process to be complete. Although there are many inputs from labor, fuel, sugarcane supply, water and machinery the main inputs are sugarcane supply.
Therefore, as graphically represented, for production of 20 tons of sugar, 10 trucks of sugarcane inputs are required for its production process.
Additionally, 80 tons of sugar requires a maximum of 20 trucks for its production to be successful.
The firm equilibrium output is at 140 tons where the firm uses 30 trucks of sugarcane to operate efficiently. Moreover, the firm produces maximum sugar by using 30 trucks of sugarcane.
An increase in the quantity of inputs as shown by the graph result in corresponding increase in the quantity of sugar produced.
In conclusion, although there are several inputs for production of sugar, the main input is sugarcane supply.
Introduction of a new Variable
Assuming there are two inputs involved in production the function becomes
Y=f(x1x2)
To produce output y, input x1 and x2 are required for it to be produced. Therefore, such input set has the following effects on production of y. x is the sum input x1 and x2 referred to as the isoquant.
The input set are represented graphically as shown where there are two inputs x1 and x2. The combination can give y1 shown in the graph. Larger quantity of x1 and x2 produces more quantity of y1.
Phenomena/Situation
Consider a situation where there are two main inputs x1 and x2 for production of sugar. Let x1 be sugarcane supply and x2 be labor. All these inputs work together for production of sugar. For Y quantity of sugar to be produced the firm need to use x1 quantity of sugarcane and x2 labor in the firm.
Therefore, therefore labor and sugarcane become two independent variables for production of maximum quantity of sugar.
Point E in the graph represent the equilibrium amount of sugar produced by use of two variables labor and sugar.
As more inputs of labor and sugarcane are introduced, the quantity of sugar produced increases gradually until the firm reaches its equilibrium point E where it produces Y quantity of sugar.
Therefore, production process requires different inputs put together to produce a given output required. Inputs such as labor, capital and raw materials are equally important in the production process.
Conclusion
In conclusion, addition of extra inputs in production clearly has great impact in production process. Production functions are determined by inputs that are used. Such inputs for example labor, capital and raw materials are used in the production process to determine the amount of outputs in production.
References
Hillegers, L. T. M. E. The Estimation of Parameters in Functional Relationship Models. Maastricht: [L.T.M.E. Hillegers], 1986. Print.
Porter, Michael E., and Scott Stern. Measuring the "ideas" Production Function: Evidence from International Patent Output. Cambridge, MA.: National Bureau of Economic Research, 2000. Print. Read More
Cite this document
• APA
• MLA
• CHICAGO
(“Functional Relationships Assignment Example | Topics and Well Written Essays - 500 words”, n.d.)
Functional Relationships Assignment Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/macro-microeconomics/1679368-functional-relationships
(Functional Relationships Assignment Example | Topics and Well Written Essays - 500 Words)
Functional Relationships Assignment Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/macro-microeconomics/1679368-functional-relationships.
“Functional Relationships Assignment Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/macro-microeconomics/1679368-functional-relationships.
Click to create a comment or rate a document

## CHECK THESE SAMPLES OF Functional Relationships

### Relationships

...Research Paper There are so many terms that are used to describe the relationship where one partner is domineered bythe other. Domestic abuse is very common in so many homes. The homes report the various forms that domestic abuse manifests itself. The four broad categories include physical, emotional, sexual and financial abuse. They all work hand in hand at destroying the psychology of the person being abused. There are very many factors that have contributed to the growth of domestic abuse all over the world. They include stressful situations, substance abuse and many psychological disturbances experienced by the abuser. What is clear is that domestic abuse affects both male and females in any union (Dutton, p 12). For...
5 Pages(1250 words)Essay

### Relationships

...?Topic:  Relationships Emoional Hardship of Tita and Celie Tita is a female who is very emotional, sensitive, and lovable, who yearned for her lover all her life. She was in love with her neighbor, Pedro in her younger age and longed to be with him all her life. Pedro asked Tita’s hand in marriage but was denied by her mother and instead her mother demanded Tita’s support till her death. Eventually Pedro married Tita’s elder sister which came as a major shock for Tita. She hence was encountered with deep pain and agony .She becomes a victim of negligence and torture from her mother, who hardly understood her desires and feeling as a young lady.Tita’s from then on released all her emotion with cooking which was her...
6 Pages(1500 words)Essay

### Functional Foods

...?Functional Foods: An Enforced Need Vitamins and mineral added foods are very commonly available in market these days and the advertisement and labeling is made very attractive forcing the customers to buy these food products without knowing whether they require the additional vitamins and minerals or not. These foods with added minerals and vitamins are known as functional foods. Functional foods are prepared by manipulating the dietary composition of the ordinary foods in order to make them extra nutritious in terms of vitamins and minerals. This type of food materials are readily available in the market in the form of a number of food products i.e. juices, breakfasts, energy drinks,...
3 Pages(750 words)Essay

### Curriculum Planning-Alignment Assignment

.... Mathematics presents low records in successive tests for the 9th, 10th and 11th. For instance, the subject recorded the lowest scores of 3% and 17% in the Grade 9 and 10 respectively (USA, 2012). As such, this plan observes that in terms of subjects, improvement strategies should target Mathematics. In terms of grades, the 11th grade presented the best performance followed by the 10th grade and the 9th grade comes last with the lowest performance. This states that the 9th grade demand improvements; thus, the action plan should focus on such a group. According to the TAKS statistics, the performance increases up the grade levels. An objective that seems not to be met includes the need for students to comprehend the...
5 Pages(1250 words)Research Paper

### Functional Analysis

...Functional Analysis Affiliation: Planning is a central activity in any social and economic setting of a country. Organizations are consistently taking part in planning and therefore contributing to development of both the social and economic aspects of identified regions and nations. Land-use planning is an activity that integrates physical, social and economic factors in systematic assessment criteria in order to enhance productivity and sustainability of projects in a society, prior to the activities undertaken by land users (Levy, 2011). The assessment of land-use plans is done in the light of circulation systems that are already in place. Compatibility of land-use plans and circulation systems that are already in...
1 Pages(250 words)Research Paper

### Functional Departmentalisation

...of Fictional Company: Compassionate Crusaders Ltd. Type of Company: Social Welfare Organisation Functional Departmentalisation The departments of the company “Compassionate Crusaders will be divided into the following departments functionally as follows: 1. Marketing (Social Media, Print Media, Television, Direct Marketing) 2. Curriculum Development 3. Event Management 4. Legal 5. Sales and Finance Marketing will cater to advertisement through various channels. I t will include campaigns, emails, seminars, talks, partnerships and various initiatives including tie ups with other social organisations Curriculum Development will focus on ideating, conceptualising, designing and developing curriculum,...
1 Pages(250 words)Assignment

### Functional Systems

...Functional Systems Functional Systems Affiliation This paper is based on scenario of The Lynx Company, “which makes use of a functional system for their sales system. It takes the orders from their salesman in the field, processes those orders in the office, sends the information to accounting, and distributes the pick orders to the warehouse for picking and delivery. Without a doubt, the system has been a great success for The Lynx Company.” As demonstrated in figure1, functional systems are used to support one functional area within a specific organization by increasing its internal efficiency and effectiveness. Basically, the Lynx Company is using the...
2 Pages(500 words)Case Study

### RELATIONSHIPS

...board with me. He seemed to have intelligence above that of a dog, not because he was a trained pet but because he had developed human emotional reflexes. Whenever I was sick and could not go out to play, he would lay there beside me as if to say “you will be ok buddy”. The relationship we had with Bruno was considered weird by many people. I would sit on the front porch at night under the stars, stroke his smooth coat and share a lot of stories with Bruno. I knew he would not talk back but the replies were in his soft whining and the look he had in his eyes. When my family went camping, I always insisted on carrying him along instead of leaving him behind. When I was nine years old, Bruno sadly died after falling ill,...
1 Pages(250 words)Essay

### Functional Status

...Assessment of Functional Status of older patients due: Assessment of Functional Status Assessment of elderly patients normally differs from the standard medical evaluation. For older patients, physical examination and history taking are paramount. The older patients also have different health care problems and are best assessed using a comprehensive assessment (Bickley, 2013). Therefore, clinicians ought to pay particular attention to common symptoms, for example, falling, weight loss, and declined socialization (Kresevic, 2012). Common disorders among the elderly are not easily noticed. Therefore, clinicians ought to carry out physical examination, history and laboratory tests that screen older patients....
1 Pages(250 words)Assignment

### Comparison of Functional and Dysfunctional Relationships

...﻿Title: Functional and Dysfunctional Relationships Introduction Relationships undergo different stages of development which come in sequence. The stages include the romance, power struggle, stability stage, commitment and co-creation stages according to Gendlin (2001). The romantic stage is experienced when couples first meet. It is filled with a lot of fantasies but is usually short lived. The power struggle stage, on the other hand, is characterized by many arguments. One partner requires the other to change a habit or behavior while they personally do not want to make certain lifestyle adjustments. The stability stage is where each partner acknowledges that he/she is different from their partner and embrace this positively... . In the...
2 Pages(500 words)Research Paper