Answered: Shunda is a calculator assembly…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Shunda is a calculator assembly company, purchase a full set of the calculator parts, assembled into a calculator to sell in the market. In recent years, the price of the calculator has remained steady at 60 yuan/units, the basic data of the input and output of shunda in 2013are listed in the table below:

Hourly wage is 6 yuan per hour, price of parts is 25 yuan per set, power consumption is paid by 0.6 yuan per watt, the extract depreciation of equipment is 3 yuan per hour, and Shunda spends fixed costs 10000 yuan per month to pay all of the regular fee

According to the above data, is it possible to estimate the production function and cost function (TC, TVC, AC and AVC)?

production
labour
Parts
of Electricity
Usage of the
month
(Q)
(L: hour)
calculator
(Y)
equipment
(X)
(К. hour)
1
450
749
530
750
550
325
505
412
543
410
513
831
607
851
720
4
642
953
711
1177
830
5
765
1078
855
1458
910
6
812
1119
915
1559
950
7
974
1398
1203
1837
1210
8
1117
1710
1602
2253
1600
9
1237
2012
1897
2578
1980
10
1054
1552
1490
2003
1510
11
877
1189
1004
1687
1080
12
913
1254
1087
1785
1150
2.

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