User contributions for Hw06
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25 March 2014
- 14:4014:40, 25 March 2014 diff hist +161 N Brain Drain Created page with "{{Learning concept |Description=The emigration of highly skilled workers from poorer nations to the United States and leading industrial countries in Europe. }}" current
- 14:3714:37, 25 March 2014 diff hist +167 N New International Economies of Scale Created page with "{{Learning concept |Description=The increased productivity resulting from the firm's integration of its entire system of manufacturing operations around the world. }}" current
- 14:3514:35, 25 March 2014 diff hist +144 N Foreign Sourcing of Inputs Created page with "{{Learning concept |Description=The purchase of parts and components abroad in order to keep production costs down and meet the competition. }}" current
- 14:3414:34, 25 March 2014 diff hist +129 N Learning Curve Created page with "{{Learning concept |Description=The curve showing the decline in average cost with rising cumulative total outputs over time. }}" current
- 14:3314:33, 25 March 2014 diff hist +180 N Economies of Scope Created page with "{{Learning concept |Description=The lowering of costs that a firm often experiences when it produces two or more products together rather than producing each product separatel..." current
- 14:3214:32, 25 March 2014 diff hist +121 N Planning Horizon Created page with "{{Learning concept |Description=The period of time of the long run when the firm can build any desired scale of plant. }}" current
- 14:3014:30, 25 March 2014 diff hist +97 N Long-run Marginal Cost Created page with "{{Learning concept |Description=The change in long-run total costs per unit change in output. }}" current
- 14:2914:29, 25 March 2014 diff hist +146 N Long-run Average Cost Created page with "{{Learning concept |Description=The minimum per-unit cost of producing any level of output when the firm can build any desired scale of plant. }}" current
- 14:2814:28, 25 March 2014 diff hist +149 N Long-run Total Cost Created page with "{{Learning concept |Description=The minimum total costs of producing various levels of output when the firm can build any desired scale of plant. }}" current
- 14:2714:27, 25 March 2014 diff hist +66 N Average Total Cost Created page with "{{Learning concept |Description=Total costs divided by output. }}" current
- 14:2614:26, 25 March 2014 diff hist +75 N Average Variable Cost Created page with "{{Learning concept |Description=Total variable costs divided by output. }}" current
- 14:2614:26, 25 March 2014 diff hist +72 N Average Fixed Cost Created page with "{{Learning concept |Description=Total fixed costs divided by output. }}" current
- 14:2514:25, 25 March 2014 diff hist +127 N Total Variable Costs Created page with "{{Learning concept |Description=The total obligations of the firm per time period for all the variable inputs the firm uses. }}" current
- 14:2414:24, 25 March 2014 diff hist +116 N Total Fixed Costs Created page with "{{Learning concept |Description=The Total obligations of the firm per time period for all the fixed inputs used. }}" current
- 14:2314:23, 25 March 2014 diff hist +104 N Sunk Costs Created page with "{{Learning concept |Description=The costs that are not affected by a particular managerial decision. }}" current
- 14:2314:23, 25 March 2014 diff hist +62 N Accounting Costs Created page with "{{Learning concept |Description=Historical explicit costs. }}" current
- 14:2214:22, 25 March 2014 diff hist +69 N Economic Costs Created page with "{{Learning concept |Description=Alternative or opportunity costs. }}" current
- 14:2114:21, 25 March 2014 diff hist +166 N Alternative or Opportunity Costs Created page with "{{Learning concept |Description=The cost to the firm of using a purchased or owned input, which is equal to what the input could earn in its best alternative use. }}" current
- 14:2014:20, 25 March 2014 diff hist +86 N Implicit Costs Created page with "{{Learning concept |Description=The value of the inputs owned and used by the firm. }}" current
- 14:1714:17, 25 March 2014 diff hist +106 N Explicit Costs Created page with "{{Learning concept |Description=The actual expenditure of the firm required to hire or purchase inputs. }}" current
- 14:1614:16, 25 March 2014 diff hist +212 N Computer-aided Manufacturing Created page with "{{Learning concept |Description=The technique that allows research and development engineers to issue instructions to a network of integrated machine tools to produce a protot..." current
- 14:1414:14, 25 March 2014 diff hist +167 N Computer-aided Design Created page with "{{Learning concept |Description=The technique that allows research and development engineers to design a new or changed product or component on a computer screen. }}" current
- 14:1314:13, 25 March 2014 diff hist +128 N Competitive Benchmarking Created page with "{{Learning concept |Description=The comparison of the efficiency of a firm's production methods relative to its competitors. }}" current
- 14:1214:12, 25 March 2014 diff hist +160 N Just-in-time Production System Created page with "{{Learning concept |Description=The production system introduced by Toyota in which every part and component of a product becomes available just when needed. }}" current
- 14:1014:10, 25 March 2014 diff hist +205 N Product Cycle Model Created page with "{{Learning concept |Description=The theory that firms that introduce an innovation eventually lose their export market and even their domestic market to foreign imitators faci..." current
- 14:0814:08, 25 March 2014 diff hist +229 N Open Innovation Model Created page with "{{Learning concept |Description=The situation where companies commercialize both their own ideas and innovations as well as the innovations of other firms and deploy external ..." current
- 14:0714:07, 25 March 2014 diff hist +165 N Closed Innovation Model Created page with "{{Learning concept |Description=The situation where companies generate, develop, and commercialize their own ideas, innovations, or technological breakthroughs. }}" current
- 14:0514:05, 25 March 2014 diff hist +93 N Process Innovation Created page with "{{Learning concept |Description=The introduction of a new or improved production process. }}" current
- 14:0414:04, 25 March 2014 diff hist +81 N Product Innovation Created page with "{{Learning concept |Description=The introduction of a new or improved product. }}" current
- 13:4613:46, 25 March 2014 diff hist +197 N Cobb-Douglas production function Created page with "{{Learning concept |Description=A production function of the form where Q,K and L are physical units of output, labor, and capital, and A, a and b are the parameters to be est..." current
- 13:4313:43, 25 March 2014 diff hist +104 N Decreasing Returns to Scale Created page with "{{Learning concept |Description=The case in which output changes by a smaller proportion than inputs. }}" current
- 13:0413:04, 25 March 2014 diff hist +104 N Increasing Returns to Scale Created page with "{{Learning concept |Description=The case in which out-put changes by a larger proportion than inputs. }}" current
- 13:0213:02, 25 March 2014 diff hist +101 N Constant Returns to Scale Created page with "{{Learning concept |Description=The case in which output changes in the same proportion as inputs. }}" current
- 13:0113:01, 25 March 2014 diff hist +169 N Expansion Path Created page with "{{Learning concept |Description=The line joining tangency points of isoquants and isocosts with input prices held constant and which shows optimal input combinations. }}" current
- 12:5812:58, 25 March 2014 diff hist +137 N Isocost Line Created page with "{{Learning concept |Description=It shows the various combinations of two inputs that the firm can hire with a given total cost outlay. }}" current
- 12:5012:50, 25 March 2014 diff hist +148 N Marginal Rate of Technical Substitution Created page with "{{Learning concept |Description=The absolute value of the slope of the isoquant. It equals the ratio of the marginal products of the two inputs. }}" current
- 12:4312:43, 25 March 2014 diff hist +117 N Ridge Lines Created page with "{{Learning concept |Description=The lines that separate the relevant from the irrelevant portions of the isoquant. }}" current
- 12:4012:40, 25 March 2014 diff hist +146 N Isoquant Created page with "{{Learning concept |Description=A curve showing the various combinations of two inputs that can be used to produce a specific level of output. }}" current
- 12:3612:36, 25 March 2014 diff hist +116 N Marginal Resource Cost Created page with "{{Learning concept |Description=The increase in total cost from hiring an additional unit of the variable input. }}" current
- 12:3212:32, 25 March 2014 diff hist +148 N Marginal Revenue Product Created page with "{{Learning concept |Description=The marginal product of the variable input times the marginal revenue from the sale of the extra output produced. }}" current
- 12:2712:27, 25 March 2014 diff hist +97 N Stages of Production Created page with "{{Learning concept |Description=The range of increasing average product of the variable input. }}" current
- 12:2712:27, 25 March 2014 diff hist +154 N Law of Diminishing Returns Created page with "{{Learning concept |Description=A Physical law, always empirically true, stating that after a point, the marginal product of a variable input declines. }}" current
- 12:2212:22, 25 March 2014 diff hist +136 N Output Elasticity Created page with "{{Learning concept |Description=The % change in output or total product divided by the percentage change in the variable input used. }}" current
- 12:1712:17, 25 March 2014 diff hist +105 N Average Product (AP) Created page with "{{Learning concept |Description=The total product divided by the quantity of the variable input used. }}" current
- 12:1512:15, 25 March 2014 diff hist +108 N Marginal Product (MP) Created page with "{{Learning concept |Description=The change in total product per unit change in the variable input used. }}" current
- 11:4611:46, 25 March 2014 diff hist +131 N Total Product (TP) Created page with "{{Learning concept |Description=The output produced by using different quantities of an input with fixed quantities of other(s). }}" current
- 11:4511:45, 25 March 2014 diff hist −1 Production Theory and Estimation No edit summary current
24 March 2014
- 16:1516:15, 24 March 2014 diff hist +161 N Production Function Created page with "{{Learning concept |Description=An equation, table, or graph that shows the maximum output that a firm can produce per period of time with each set of inputs. }}" current
- 16:1316:13, 24 March 2014 diff hist +80 N Long Run Created page with "{{Learning concept |Description=The time period when all inputs are variable. }}" current
- 16:1216:12, 24 March 2014 diff hist +84 N Short Run Created page with "{{Learning concept |Description=The time period when at least one input is fixed. }}" current