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) No more items Categories Market constraint Hourly wage of workers in the industry The number of other firms selling similar products The number of buyers in the market Cost per pound of limestone Cost per pound of sand Cost per hour of keeping the furnace at the required temperature Technology constraint Maximum amount of output per hour that can be produced
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) No more items Categories Market constraint Hourly wage of workers in the industry The number of other firms selling similar products The number of buyers in the market Cost per pound of limestone Cost per pound of sand Cost per hour of keeping the furnace at the required temperature Technology constraint Maximum amount of output per hour that can be produced
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
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)
No more items
Categories
-
Market constraint
-
Hourly wage of workers in the industry
-
The number of other firms selling similar products
-
The number of buyers in the market
-
Cost per pound of limestone
-
Cost per pound of sand
-
Cost per hour of keeping the furnace at the required temperature
-
-
Technology constraint
-
Maximum amount of output per hour that can be produced
-
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