Production Economics 产品经济.ppt

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1、ProductionEconomicsGSM5000(MANAGERIALECONOMICS)NormazwanaIsmail,PhDTechnology&TechnologyChangesTechnology:theprocessesafirmusestoturninputsintooutputsofgoodsandservicesTechnologicalchange:achangeintheabilityofafirmtoproduceagivenlevelofoutputwithagivenquantityof

2、outputThedevelopmentofthefirstdigitalelectroniccomputer–theENIAC-occurredin1945ThefirstIBMpersonalcomputerintroducedin1981√Itwasnotuntil1990sthatwidespreaduseofcomputersbegantohavesignificanteffectofproductivityTheTechnologyofProductionTheproductionfunctionfortw

3、oinputs:q=F(K,L)Output(q)isafunctionofcapital(K)andLabor(L)TheproductionfunctionistrueforagiventechnologyIftechnologyincreases,moreoutputcanbeproducedforagivenlevelofinputsgiventechnology,usedtotransforminputsintooutputsINPUTS:FixedandVariableInputsAfixedinputre

4、quiredintheproductionprocessbutquantityemployedintheprocessisconstantoveragivenperiodoftimeregardlessofthequantityofoutputproduced.Thecostsofafixedinputmustbeincurredregardlessofwhethertheproductionprocessisoperatedatahighoralowrateofoutput.Avariableinputquantit

5、yemployedintheprocesschangesdependingonthedesiredquantityofoutputtobeproduced.TECHNOLOGYAstechnologymoreadvanced,afirmcanobtainmoreoutputforagivenasetofinputsProductionfunctionsdescribewhatistechnicallyfeasiblewhenthefirmoperatesefficientlywhenthefirmuseseachcom

6、binationofinputsaseffectivelyaspossibleTheproductionfunctionRelatedthemaximumquantityofoutputthatcanbeproducedfromgivenamountsofvariousinputsforagiventechnology.Achangeintechnology,suchasintroductionofmoreautomatedequipmentorthesubstitutionofskilledforunskilledw

7、orkers,resultinanewproductionfunction.Theproductionofmostoutputs(goodandservices)requirestheuseoflargenumbersofinputs.Eg.Theproductionofgasoline:requirestheuseofmanydifferentlaborskills(roughneck,chemicalengineers,refinerymaintenanceworkers),rawmaterials(crudeoi

8、l,chemicaladditives,heat)typesofequipment(boilers,distillationcolumn,crackingchambers).allowsinputstobecombinedinvaryingproportions,outputcanbeproducedinmanywaysEg.Pe