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

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 11RQ: What is die difference between accounting and economic profit?

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Question

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
Categories
Cost per hour of
keeping the
furnace at the
required
temperature
The number of
other firms
selling similar
products
Market constraint
Drag and drop here
Cost per pound
of limestone
Cost per pound
of sand
Technology constraint
Drag and drop here
Maximum
amount of output
per hour that can
be produced
Hourly wage of
workers in the
industry

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