Chapter eighteen Technology 技术
Chapter Eighteen Technology 技术
Structure Describing technologies O Production set or technology set ● Production function ● Isoquant ◆ Marginal product ◆ Returns to scale e Technical rate of substitution e Well-behaved technologies Long run and short run
Structure ◆ Describing technologies ⚫Production set or technology set ⚫Production function ⚫Isoquant ◆ Marginal product ◆ Returns to scale ◆ Technical rate of substitution ◆ Well-behaved technologies ◆ Long run and short run
Technologies .A technology is a process by which inputs are converted to an output. E.g. labor, a computer, a projector, electricity, and software are being combined to produce this lecture
Technologies ◆A technology is a process by which inputs are converted to an output. ◆E.g. labor, a computer, a projector, electricity, and software are being combined to produce this lecture
Technologies o Usually several technologies will produce the same product-a blackboard and chalk can be used instead of a computer and a projector. ◆ Which technology is“best? How do we compare technologies?
Technologies ◆Usually several technologies will produce the same product -- a blackboard and chalk can be used instead of a computer and a projector. ◆Which technology is “best”? ◆How do we compare technologies?
Input bundles xi denotes the amount used of input i; i,e, the level of input i P An input bundle is a vector of the input levels; 1 25
Input Bundles ◆xi denotes the amount used of input i; i.e. the level of input i. ◆An input bundle is a vector of the input levels; (x1 , x2 , … , xn )