ECONOMICS; Explain what a technological change is and how you can use it to lower your costs Custom Essay

You are the possessor of a slight meat factory and are thinking of murky absorbs and developing. Your slight-concern advisors suggested that you pristine resurvey your operations and compel some technological changes. Complete the following:

  • Explain what a technological change is and how you can interpretation it to inferior your absorbs.

The direct object that your slight concern advisors asked you to do was to split down your absorbs and understand what you can subject.

  • Develop a consideration that you respect shows the open unroving absorbs of the meat factory and the completion equality of the absorbs.
  • Describe your wavering absorbs.
  • Because you are not attribuboard attribuboard attribuboard an cheerful still on analyzing absorbs and optimal coercionmation flattens, you confuse to do a very simple separation of your condensed-confuse unroving and wavering absorbs if you develop. You confuse that your singly unroving absorb earn be the ovens and the wavering absorbs earn be the workers.
Quantity of Workers Quantity of Ovens Quantity of Loaves of Meat Produced Absorb of Ovens Absorb of Workers Per Week
0 2 0 500 0
1 2 50   450
2 2 125    
3 2 210    
4 2 300    
5 2 410    
6 2 550    
7 2 625    
8 2 660    
9 2 700    
10 2 730    

Instructions
  1. Calculate the  completion absorb and the middle completion absorb, and subjoin it to the consideration
  2. Calculate the marginal effect of labor, and subjoin it to the consideration.
  3. Calculate the middle effect of work, and subjoin it to the table.
  4. Although there understandms to be a exalted insist coercion your meat, why would effectivity decline when you commission more work in the condensed confuse?
  5. What are your marginal absorbs?
  6. At what sharp-end do your marginal absorbs and your completion absorbs intersect?
  7. Calculate your middle completion absorbs, your middle unroving absorbs, and your middle wavering absorbs.
  8. What happens to your middle wavering absorbs as your output goes up? Why is that?
  9. How would developing the concern desire the economies of layer? When would you accept immutable repay to layer and diseconomies of layer? Provide examples.
  10. Where is the optimal flatten of coercionmation and the optimal flatten of prices in the condensed confuse?

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