Here is the synopsis of our sample research paper on Labor-Capital Ratio Questions. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 5 page paper looks at the capital labor equation, what it is and how it can be used to maximize production in a factory. The paper then considers how it may differ if the factory has a choice of two goods to produce. The bibliography cites 5 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEcaplab.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
f (K, L), where the quality supplied is a function of the capital and the labour. This may also be written Y = f(K, L) ((Nellis and Parker, 2000). The
firm will want to maximise their profit level. If we assume that the direct material costs for the sinks remain constant, then the costs of capital and the labour may
be seen as the variable costs. There will be an upper limit that can be spent on these costs, for costs that are spent on capital will be funds that
cannot be spent on labour; likewise costs that are spent on labour cannot be spent on capital. In order to consider the optimal output there will need to be
the consideration of several factors. These will concern the demand for the goods being producing including the current supply and demand within the industry and the level of elasticity. This
will enable the firm to assess at what level there will be the greatest overall profit made. For example, if the product is elastic then it can be more cost
effective to manufacture less of a product and sell it for a higher price. There will also need to be the determination of the costs of both the labour
and the capital, capital is not just the funds, but the capital used in the production of the goods, which can include the use of the factory building, the equipment
and machinery etc. Labour and capital also interact, for example, there may be the need for investment in new or maintaining the capital (in the form of equipment), where
this falls below a certain level there may be a fall in the level of the productivity of the labour, this will lead to a fall in the level of
...