18Technology.pptVIP

Chapter Eighteen Technology 技术 Technologies (技术) A technology is a process by which inputs （投入） are converted to an output （产出）. E.g. labor, a computer, a projector, electricity, and software are being combined to produce this lecture. Technologies Usually several technologies will produce the same product – a blackboard and chalk can be used a computer and a projector. Which technology is “best”? How do we compare technologies? Input Bundles xi denotes the amount used of input i; i.e. the level of input i. An input bundle is a vector of the input levels; (x1, x2, … , xn). Production F