tailieunhanh - Lecture Microeconomics: Chapter 6 - Besanko, Braeutigam

Chapter 6 - Inputs and production functions. This chapter presents the following content: Motivation, the production function, technical progress, returns to scale, some special functional forms. | Chapter 6 Inputs and Production Functions Copyright c 2014 John 1 Chapter Six Overview 1. Motivation 3. The Production Function 0 Marginal and Average Products 0 Isoquants 0 The Marginal Rate of Technical Substitution 5. Technical Progress 6. Returns to Scale 7. Some Special Functional Forms Copyright c 2014 John I tf . Chapter Six ffilUDB Production of Semiconductor Chips 0 Fabs cost 1 to 2 billion to construct and are obsolete in 3 to 5 years 0 Must get fab design right 0 Choice Robots or Humans 0 Up-front investment in robotics vs. better chip yields and lower labor costs 0 Capital-intensive or laborintensive production process Copyright c 2014 John Chapter Six

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