Solution-Factors of production, Describe three key inputs

Factors of production

Assignment Help Business Economics

Reference no: EM131399117

3 pages on the following for the Apple iWatch

Production and Costs

a) Describe three key inputs (or factors of production) and fixed and variable costs involved in the production of your chosen product or service.One example of an input is machines, which are fixed costs. Keep in mind that all inputs will either fall under fixed or variable cost.

b) Analyze the factors that impact your choice of inputs to produce the chosen product or service. For example, how would a change in the price ofraw materials impact the combination of inputs?

c) Based on this analysis, what production decisions would you make? Be sure to support your decisions with examples or data.

Reference no: EM131399117

Questions Cloud

What is the geopolitical community in you live : What is the geopolitical community in you live? Why is it geopolitical?What is a phenomenological community to which you belong? Why is it a phenomenological community?What would some challenges and benefits be for community health nurses in providin..

How has linkedin changed the employment community : How has LinkedIn changed the employment community? How has it changed for the worse and how for the better? How common is professional appearance in real life situations. How can LinkedIn fail to your standards? Before computers how big of an effect ..

What means do they use to hedge against exchange rate risk : What means do they use to hedge against exchange rate risk - In terms of currency denomination, describe how the firm prices its revenues and costs.

Which is explanatory variable and which is response variable : For each of the given situations, which is the explanatory variable and which is the response variable?- The two variables are whether or not someone smoked and whether or not the person developed Alzheimer's disease.

Factors of production : Describe three key inputs (or factors of production) and fixed and variable costs involved in the production of your chosen product or service.One example of an input is machines, which are fixed costs. Keep in mind that all inputs will either fal..

What happens when a new species is introduced : SCIE211- Ecosystems are webs of intricately balanced interactions, what happens when a new species is introduced that uses a disproportionate share of the ecosystem's resources?

Calculates and displays your grade point average : This information should then be displayed with the lowest grade first, and the GPA for the term should be calculated and displayed. A warning message should be printed if the GPA is less than 2.0 and a congratulatory message if the GPA is 3.5 or a..

What are some causes of violence against women : What are some causes of violence against women and what do you think can be done to decrease it?Why are some parents choosing not to vaccinate their children in recent years? How do you view this issue? Should this be a parents' right? Discuss any ..

Define perfect competition : 1. Define perfect competition. Explain how this theory has or does not have (in your opinion) relevance in economic theory. 2. Briefly explain how Robinson and Marx defined labor exploitation.

User Account

All Pages

Factors of production

Reference no: EM131399117

Reference no: EM131399117

Questions Cloud

Reviews

Write a Review

Business Economics Questions & Answers

Economics assignment

Demand and supply curves

Long-run perfectly competitive equilibrium for the firm

Supply and demand diagrams

Case study: fisher-price toys

Draw the production possibility curve

Tax revenue

Maximize total welfare

Difference between the cv and the ev

Depict von neumann-morgenstern utility index u in a diagram

What is the market solution

Calculate gross national product and net national product

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT