Consider a firm that produces glass. Glass production involves melting sand, soda ash, and limestone at a very high temperature.Consider the following factors that a glass manufacturer faces, and determine whether each represents a technological constraint or amarket constraint:Items (7 items) (Drag and drop into the appropriate area below)The number ofbuyers in themarketCategoriesCost per hour ofkeeping thefurnace at therequiredtemperatureThe number ofother firmsselling similarproductsMarket constraintDrag and drop hereCost per poundof limestoneCost per poundof sandTechnology constraintDrag and drop hereMaximumamount of outputper hour that canbe producedHourly wage ofworkers in theindustry

A constraint restricts or prohibits the success of a particular production procedure. According to…

Consider a firm that produces glass. Glass production involves melting sand, soda ash, and limestone at a very high temperature. Consider the following factors that a glass manufacturer faces, and determine whether each represents a technological constraint or a market constraint: Items (7 items) (Drag and drop into the appropriate area below) The number of buyers in the market Cost per hour of keeping the furnace at the required temperature The number of other firms selling similar products Cost per pound of limestone Cost per pound of sand Maximum amount of output per hour that can be produced Hourly wage of workers in the industry

Consider a firm that produces glass. Glass production involves melting sand, soda ash, and limestone at a very high temperature. Consider the following factors that a glass manufacturer faces, and determine whether each represents a technological constraint or a market constraint: Items (7 items) (Drag and drop into the appropriate area below) The number of buyers in the market Cost per hour of keeping the furnace at the required temperature The number of other firms selling similar products Cost per pound of limestone Cost per pound of sand Maximum amount of output per hour that can be produced Hourly wage of workers in the industry

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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