Lab2.4 - Faseeh Riaz Student#210867588 Comments This spreadsheet highlights a fundamental economic relationship Through numerical and graphical

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Unformatted text preview: Faseeh Riaz Student#210867588 Comments This spreadsheet highlights a fundamental economic relationship. Through numerical and graphical data, it attempts to highlight the relationship between the output of a firm and its avaliable resources. Specifically, resources refer to the amount of machinery and labour that the firm has at its disposal. Total capital investment can be expressed as K = eL + M,where the coefficient e (a constant) implies that a unit of investment in labour is equivalent to more or less than a unit of investment in machinery depending on whether e is greater than or less than 1. Investment (K), it can be split between investments in labour and mac and that it could be possible to choose investments in L and M in such a way as to maximize output supply(S).The spreadsheet model that has been developed will investigate this graphicallyoutput supply(S)....
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This note was uploaded on 02/05/2011 for the course ECON 1000 taught by Professor Paschakis during the Spring '08 term at York University.

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Lab2.4 - Faseeh Riaz Student#210867588 Comments This spreadsheet highlights a fundamental economic relationship Through numerical and graphical

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