{"id":23704,"date":"2022-01-09T07:24:40","date_gmt":"2022-01-09T07:24:40","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/a-firm-can-use-three-different-production-technologies\/"},"modified":"2022-01-09T07:24:40","modified_gmt":"2022-01-09T07:24:40","slug":"a-firm-can-use-three-different-production-technologies","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/a-firm-can-use-three-different-production-technologies\/","title":{"rendered":"A firm can use three different production technologies"},"content":{"rendered":"<div>\n<p><span>A firm can use three different production technologies, with capital and labor requirements at each level of output as follows:<\/span><\/p>\n<p><span>TECH. 1 TECH. 2 TECH.3<\/span><br \/><span>Daily Output K L K L K L<span>\u00a0<\/span><\/span><br \/><span>100 3 7 = 10 4 5 = 9 5 4 = 9<\/span><br \/><span>150 3 10 = 13 4 7 = 11 5 5 = 10<\/span><br \/><span>200 4 11 = 15 5 8 = 13 6 6 = 12<\/span><br \/><span>250 5 13 = 18 6 10 = 16 7 8 = 15<\/span><\/p>\n<p><span>a. Suppose the firm is operating in high-wage country, where capital cost is $100 per unit per day and labor cost is $80 per worker per day. For each level of output, which technology is cheapest?<\/span><br \/><span>b. Now suppose the firm is operating in a low-wage country, where capital cost is $100 per unit per day but labor cost is only $40 per unit per day. For each level of output, which technology is cheapest?<\/span><br \/><span>c. Suppose the firm move from a high-wage to a low-wage country but its level of output remains constant at 200 units per day. How will its total employment change?<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A firm can use three different production technologies, with capital and labor requirements at each level of output as follows: TECH. 1 TECH. 2 TECH.3Daily Output K L K L K L\u00a0100 3 7 = 10 4 5 = 9 5 4 = 9150 3 10 = 13 4 7 = 11 5 5 = [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-23704","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/23704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=23704"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/23704\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=23704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=23704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=23704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}