MARK HIRSCHEY
10E
PowerPoint Presentation by Charlie Cook
MANAGERIAL ECONOMICS Chapter 7
Production Analysis and Compensation Policy
© 2003 South-Western/Thomson Learning
Representative Production Surface
Figure 7.1 Managerial Economics 10e
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Total, Average, and Marginal Product for Input X, Given Y = 2
Figure 7.2 Managerial Economics 10e
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Rational II Total Marginal, and Average Product Curves: (A) Total Product Curve for X, Holding Y = Y1; (B) Marginal Product Curve for X, Holding Y = Y1
Figure 7.3 Managerial Economics 10e
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Representative Isoquants for Table 7.1 KULIT
SOL Figure 7.4 Managerial Economics 10e
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Isoquants for Inputs with Varying Degrees of Substitutability: (A) Electric Power Generation; (B) Bicycle Production
Figure 7.5a Managerial Economics 10e
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Isoquants for Inputs with Varying Degrees of Substitution: (C) Dress Production
Figure 7.5b Managerial Economics 10e
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Input X1
X1o
0 Managerial Economics 10e
400 300 200
100 X2o X2’ X2” X2”’
Input X2
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Maximum Variable Proportions for Inputs X and Y
30 20 10 Yo Figure 7.6 Managerial Economics 10e
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MRP Curve Is an Input Demand Curve P1 P2 P3 P4 P5
SL
L1 L2 L3 L4 L5
L6 L7 Figure 7.7
Managerial Economics 10e
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Isocost Curves
Figure 7.8 Managerial Economics 10e
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Input X1 PX1=4 and PX2=8
10 8
6 600 500 400 300 Input X2 200 100
4 2 0
1
Managerial Economics 10e
2
3 4 5 © 2003 South-Western/Thomson Learning
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Optimal Input Combinations
Figure 7.9 Managerial Economics 10e
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7.3
COST IN THE LONG RUN
Cost Minimization with Varying Output Levels Figure 7.6 A Firm’s Expansion Path and Long-Run Total Cost Curve
In (a), the expansion path (from the origin through points A, B, and C) illustrates the lowest-cost combinations of labor and capital that can be used to produce each level of output in the long run— i.e., when both inputs to production can be varied. In (b), the corresponding longrun total cost curve (from the origin through points D, E, and F) measures the least cost of producing each level of output.
7.4
LONG-RUN VERSUS SHORT-RUN COST CURVES
The Inflexibility of Short-Run Production Figure 7.7 The Inflexibility of Short-Run Production
When a firm operates in the short run, its cost of production may not be minimized because of inflexibility in the use of capital inputs. Output is initially at level q1. In the short run, output q2 can be produced only by increasing labor from L1 to L3 because capital is fixed at K1. In the long run, the same output can be produced more cheaply by increasing labor from L1 to L2 and capital from K1 to K2.
Skala Hasil • Skala Hasil adalah suatu keadaaan dimana output meningkat sebagai respon adanya kenaikan yang proporsional dari seluruh input. • Pada abad ke-18, Adam Smith merasa tertarik pada konsep ini ketika dia mempelajari produksi peniti.
Copyright (c) 2000 by Harcourt, Inc. All rights reserved.
Skala Hasil • Adam Smith mengidentifikasi dua kekuatan yang muncul ketika seluruh input ditingkatkan. –Penggandaan skala memerlukan “pembagian tenaga kerja”yang lebih besar, sehingga individu dapat memiliki keahlian (specialization) dalam spesifikasi produksi bagian peniti. –Spesialisasi mungkin akan meningkatkan efisiensi dan jumlah produksi akan lebih dari dua kali lipat..
• Namun demikian bahwa manfaat tersebut harus diimbangi dengan manajemen yang baik jika perusahaan beroperasi pada skala besar. Copyright (c) 2000 by Harcourt, Inc. All rights reserved.
Skala Hasil Konstan • Sebuah fungsi produksi dikatakan menunjukkan skala hasil yang konstan (constant returns to scale) jika peningkatan seluruh input sebanyak dua kali lipat berakibat pada peningkatan output sebanyak dua kali lipat pula. –Situasi ini ditunjukkan pada Panel (a) Gambar 5.3.
Copyright (c) 2000 by Harcourt, Inc. All rights reserved.
Gambar 5.3: Peta-peta Isokuan yang menunjukkan Skala Hasil Konstan A
Modal per minggu 4
q = 40
3
q = 30
2
q = 20
1
q = 10 0
1
2
3
(a) Skala Hasil Konstan Copyright (c) 2000 by Harcourt, Inc. All rights reserved.
4
Tenaga kerja per minggu
Skala Hasil Menurun • Jika peningkatan input sebanyak dua kali lipat menghasilkan output yang kurang dari dua kali lipatnya, maka fungsi produksi tersebut dikatakan menunjukkan skala hasil yang menurun (decreasing returns to scale). –Situasi ini ditunjukkan pada Panel (b) Gambar 5.3.
Copyright (c) 2000 by Harcourt, Inc. All rights reserved.
Gambar 5.3: Peta-peta Isokuan yang menunjukkan Skala Hasil Konstan dan Menurun
A
Modal per minggu
per minggu 4
4
q = 40
3
q = 30
2
q = 20
1 0
A
Modal
3
q = 30
2
q = 20
1
q = 10 1
2
3
4
Tenaga kerja per minggu
(a) Skala Hasil Konstan Copyright (c) 2000 by Harcourt, Inc. All rights reserved.
q = 10 0 1
2
3
4
Tenaga kerja per minggu
(b) Skala Hasil Menurun
Skala Hasil Meningkat • Jika penggandaan seluruh input menghasilkan ouput lebih dari dua kali lipatnya maka fungsi produksi mengalami skala hasil meningkat ( increasing returns to scale). –Situasi ini ditunjukkan pada Panel (c) Gambar 5.3. • Jenis skala ekonomi yang terjadi di dunia nyata tentu saja dapat memiliki kombinasi-kombinasi yang lebih kompleks daripada contoh sederhana tersebut. Sebuah fungsi produksi dapat memperlihatkan skala hasil yang meningkat dan mengalami penurunan skala hasil atau mengalami skala hasil yang tetap. Copyright (c) 2000 by Harcourt, Inc. All rights reserved.
Gambar 5.3: Peta-peta Isokuan yang menunjukkan Skala Hasil Konstan, Menurun, dan Meningkat A
Capital per week
4
4
q = 40
3
q = 30
2 1
A
Capital per week
q = 20 q = 10 Labor 0 1 2 3 4 per week (a) Constant Returns to Scale Capital per week
3
q = 30
2
q = 20
1 q = 10 Labor 0 1 2 3 4 per week (b) Decreasing Returns to Scale A
4 3
q = 40 q = 30 q = 20 1 q = 10 Labor 0 1 2 3 4 per week (c) Skala Hasil Meningkat 2
Copyright (c) 2000 by Harcourt, Inc. All rights reserved.
Input X1
Input X2
Managerial Economics 10e
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Input X1
Input X2
Managerial Economics 10e
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Input X1
Input X2
Managerial Economics 10e
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Returns to Scale May Be Constant, Decreasing, or Increasing
Figure 7.10 Managerial Economics 10e
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Productivity Growth Jumped in the Late 1990s
Figure 7.11 Managerial Economics 10e
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Manufacturing Productivity Growth Has Been Impressive
Figure 7.12 Managerial Economics 10e
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Thank You
Managerial Economics 10e
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