4 Long Run Production Capital labor Units Qty $3,000 5 32 outputs % inputs % change - change returns to Scale - $5,000 10 40 100 25 increasing $7,500 12 90 20 125 decreasing $8,000 13 110 8.33 22.22 decreasing $9,000 15 125 15.38 13.636 increasing $11,000 16 130 6.66 4 increasing $11,700 18 320 132 12.5 1.54 increasing 300 280 260 240 220 200 edited 180 160 140 120 100 80 60 For my long run production I wanted to see the different out comes if I my and capital variable After doing so! was able to calculate my output & input % change using the formula (original-new) original Х labor cost per duvet cover 40 20 10 20 30 40 50 60 70 80 90 100 120 130 140 150 160 qty of duvet covers (per month 100
4 Long Run Production Capital labor Units Qty $3,000 5 32 outputs % inputs % change - change returns to Scale - $5,000 10 40 100 25 increasing $7,500 12 90 20 125 decreasing $8,000 13 110 8.33 22.22 decreasing $9,000 15 125 15.38 13.636 increasing $11,000 16 130 6.66 4 increasing $11,700 18 320 132 12.5 1.54 increasing 300 280 260 240 220 200 edited 180 160 140 120 100 80 60 For my long run production I wanted to see the different out comes if I my and capital variable After doing so! was able to calculate my output & input % change using the formula (original-new) original Х labor cost per duvet cover 40 20 10 20 30 40 50 60 70 80 90 100 120 130 140 150 160 qty of duvet covers (per month 100
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQP
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Transcribed Image Text:4
Long Run Production
Capital
labor
Units Qty
$3,000
5
32
outputs % inputs %
change
-
change
returns to
Scale
-
$5,000
10
40
100
25
increasing
$7,500
12
90
20
125
decreasing
$8,000
13
110
8.33
22.22
decreasing
$9,000
15
125
15.38
13.636
increasing
$11,000
16
130
6.66
4
increasing
$11,700 18
320
132
12.5
1.54
increasing
300
280
260
240
220
200
edited
180
160
140
120
100
80
60
For
my long run
production I wanted
to see the different
out comes if I
my
and capital variable
After doing so!
was
able to calculate
my output & input
% change using the
formula (original-new)
original
Х
labor
cost per duvet cover
40
20
10 20 30 40 50 60 70 80 90 100 120 130 140 150 160
qty of duvet covers
(per month
100
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