Econ 102 CSM Production Function Essay
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Description
The assignment is to create your own firm, explain, chart and graph all of the necessary information in the production function.This can be anything that you like.It works best if you pick something you are interested in, or model it after your place of employment, or what you want to do in the future.In the past I’ve see everything from tattoo parlors to magical brooms, and pretty much everything in between.The only requirement for the output is that it has to be measurable.Since everything has to be measured in terms of costs and labor per unit, it is easiest to have the product be a tangible good (not a service).In the case of the tattoo parlor, the student was able to break down exactly how much ink, paper, cleaning solution, pens, plastic wrap, electricity, etc. would be used per artist on a 15 min interval.
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