Suggest a production function that describes each of the following: (D A logging company can cut down 10 trees per hour for each 3-worker, 1-chainsaw
Suggest a production function that describes each of the following:
(D A logging company can cut down 10 trees per hour for each 3-worker, 1-chainsaw crew. T=f(w,c) (ii) A timber trucking company can use large self-driving trucks, capable of carrying 80 trees, and small self-driving trucks, capable of carrying only 60, to transport trees.
T=f(|,s) (iii) A sawmill uses both machines and workers to turn logs into dimensional lumber. Given two production plans, one with more workers and fewer machines than the
other, the mill could produce more than either plan by using the average number of workers and machines across each plan. L=f(w,m)
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