Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2
➤ Gửi thông báo lỗi ⚠️ Báo cáo tài liệu vi phạmNội dung chi tiết: Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2
Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2
WWW. down loadsllde.comChapterProduction and Cost in the Long RunAfter reading this chapter, you will be able to:9.1Graph a typical production isoquan Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2nt and discuss the properties of isoquants.9.2Construct isocost curves for a given level of expenditure on inputs.9.3Apply optimization theory to find the optimal input combination.9.4Construct the firm's expansion path and show how it relates to the firm's long-run cost structure.9.5Calculate long- Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2run total, average, and marginal costs from the firm's expansion path.9.6Explain how a variety of forces affects long-run costs: scale, scope, learninEbook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2
g, and purchasing economies.9.7Show the relation between long-run and short-run cost curves using long-run and short-run expansion paths.No matter howWWW. down loadsllde.comChapterProduction and Cost in the Long RunAfter reading this chapter, you will be able to:9.1Graph a typical production isoquan Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2ng run." .Managers face a particularly important constraint on the way they can organize production in the short run: The usage of one or more inputs is fixed. Generally the most important type of fixed input is the physical capital used in production: machinery, tools, computer hardware, buildings Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2for manufacturing, office space for administrative operations, facilities for storing inventory, and so on. In the long run, managers can choose to opEbook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2
erate with whatever amounts and kinds of capital resources they wish. This is the essential feature of long-run analysis of production and cost. In thWWW. down loadsllde.comChapterProduction and Cost in the Long RunAfter reading this chapter, you will be able to:9.1Graph a typical production isoquan Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 211www.downtoadslide.comCHAPTER 9 Production and Cost in the Long Run 3139.1 PRODUCTION ISOQUANTSisoquantA curve showing all possible combinations of inputs physically capable of producing a given fixed level of output.An important tool of analysis when two inputs are variable is the productionisoqua Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2nt or simply isoquant. An isoquant is a curve showing all possible combinations of the inputs physically capable of producing a given (fixed) level ofEbook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2
output. Each point on an isoquant is technically efficient; that is, for each combination on the isoquant, the maximum possible output is that associWWW. down loadsllde.comChapterProduction and Cost in the Long RunAfter reading this chapter, you will be able to:9.1Graph a typical production isoquan Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2 labor for capital, while keeping output constant. Therefore, if the two inputs are continuously divisible, as we will assume, there are an infinite number of input combinations capable of producing each level of output.To understand the concept of an isoquant, return for a moment to Table 8.2 inthe Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2 preceding chapter. This table shows the maximum output that can be produced by combining different levels of labor and capital. Now note that severalEbook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2
levels of output in this table can be produced in two ways. For example, 108 units of output can be produced using either 6 units of capital and 1 woWWW. down loadsllde.comChapterProduction and Cost in the Long RunAfter reading this chapter, you will be able to:9.1Graph a typical production isoquan Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2output. And if we assumedthat labor and capital were continuously divisible, there would be many morecombinations on this isoquant.Other inputoutput arecombinations in Table 8.2 that can produce the same level ofQ =10.75using K = 2, L=5orK =8,L=2Q =16.6666666666667using K = 9, L=3orK =4,, L=4Q =18.8 Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 275using K = 5, L=4orK =3,L=7Q =29.5using K = 6, L=7orK =5, L=9Q = 753: using K = 10, L = 6 or K = 6, L = 8Each pair of combinations of K and L is twoEbook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2
of the many combinations associated with each specific level of output. Each demonstrates that it is possible to increase capital and decrease labor (WWW. down loadsllde.comChapterProduction and Cost in the Long RunAfter reading this chapter, you will be able to:9.1Graph a typical production isoquan Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2nits of capital and 3 units of labor, it can increase labor by 1, decrease capital by 5, and keep output at 400. Or if it is producing 453 units of output with K = 3 and L = 7, it can increase K by 2, decrease L by 3, and keep output at 453. Thus an isoquant shows how one input can be substituted fo Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2r another while keeping the level of output constant.Characteristics of IsoquantsWe now set forth the typically assumed characteristics of isoquants wEbook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2
hen labor, capital, and output are continuously divisible. Figure 9.1 illustrates three such isoquants. Isoquant Q] shows all the combinations of capiWWW. down loadsllde.comChapterProduction and Cost in the Long RunAfter reading this chapter, you will be able to:9.1Graph a typical production isoquan Ebook Managerial economics - Foundations of business analysis and strategy (12th edition): Part 2nits of capital and 15 of labor, or any otherWWW. down loadsllde.comChapterProduction and Cost in the Long RunAfter reading this chapter, you will be able to:9.1Graph a typical production isoquanGọi ngay
Chat zalo
Facebook