中级微观经济学课件18.pdfVIP

Chapter 18 Technology Technologies • A technology is a process by which inputs are converted to an output. • 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 instead of a computer and a projector. • Which technology is “best”? • How do we compare technologies? Input Bundles • x denotes the amount used of input i; i.e. i the level of input i. • An input bundle is a vector of the input levels; (x , x , … , x ). 1 2 n • E.g. (x , x , x ) = (6, 0, 9 ×3). 1 2 3 Production Functions • y denotes the output level. • The technology’s production function states the maximum amount of output possible from an input bundle. y f(x , ,x ) 1 n Production Functions One input, one output Output Level y = f(x) is the production function. y’ y’ = f(x’) is the maximal output level obtainable from x’ input units. x’ x Input Level Technology Sets • A production plan is an input bundle and an output level; (x , … , x , y). 1 n • A production plan is feasible if ≤ ( , , )