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SuperFashion produces specialty tops stitching two silk sleeves (S) to a knitted body (B). Stitching always takes 20 minutes of a seamstress time (L Silk sleeves can be produced using Labor (Ls) and silk fabric (F) according to the production function S = Ls¹/3F2/3, Knitted bodies can be produced using labor (La) and yarn (Y) according to the production function B=Lg¹/4Y1/4, L is measured in hours. SuperFashion wishes to produce 10 specialty tops. 1. How many silk sleeves and how many knitted bodies does SuperFashion need to produce? Does this number depend on the cost of labor, silk fabric or yarn?

SuperFashion produces specialty tops stitching two silk sleeves (S) to a knitted body (B). Stitching always takes 20 minutes of a seamstress time (L Silk sleeves can be produced using Labor (Ls) and silk fabric (F) according to the production function S = Ls¹/3F2/3, Knitted bodies can be produced using labor (La) and yarn (Y) according to the production function B=Lg¹/4Y1/4, L is measured in hours. SuperFashion wishes to produce 10 specialty tops. 1. How many silk sleeves and how many knitted bodies does SuperFashion need to produce? Does this number depend on the cost of labor, silk fabric or yarn?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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SuperFashion produces specialty tops stitching two silk sleeves (S) to a knitted body (B). Stitching always takes 20 minutes of a seamstress time (L Silk sleeves can be produced using Labor (Ls) and silk fabric (F) according to the production function S = Ls1/3F2/3. Knitted bodies can be produced using labor (LB) and yarn (Y) according to the production function B = LB¹/4Y1/4, L is measured in hours. SuperFashion wishes to produce 10 specialty tops. 1. How many silk sleeves and how many knitted bodies does SuperFashion need to produce? Does this number depend on the cost of labor, silk fabric or yarn?
Transcribed Image Text:SuperFashion produces specialty tops stitching two silk sleeves (S) to a knitted body (B). Stitching always takes 20 minutes of a seamstress time (L Silk sleeves can be produced using Labor (Ls) and silk fabric (F) according to the production function S = Ls1/3F2/3. Knitted bodies can be produced using labor (LB) and yarn (Y) according to the production function B = LB¹/4Y1/4, L is measured in hours. SuperFashion wishes to produce 10 specialty tops. 1. How many silk sleeves and how many knitted bodies does SuperFashion need to produce? Does this number depend on the cost of labor, silk fabric or yarn?
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SuperFashion produces specialty tops stitching two silk sleeves (S) to a knitted body (B). Stitching always takes 20 minutes of a seamstress time (LT). - Silk sleeves can be produced using Labor (Ls) and silk fabric (F) according to the production function S Ls1/3F2/3. Knitted bodies can be produced using labor (LB) and yarn (Y) according to the production function B = LB¹/4Y¹/4. L is measured in hours. SuperFashion wishes to produce 10 specialty tops. 1. How many silk sleeves and how many knitted bodies does SuperFashion need to produce? Does this number depend on the cost of labor, silk fabric or yarn? Suppose that silk fabric costs $20 while the labor services needed to produce silk sleeves cost $10 an hour. 2. How many yards of fabric and how many hours of labor are needed to produce 20 sleeves as cheaply as possible? What is the cost of producing the sleeves? Suppose that yarn costs $15 while the labor services needed to knit a body cost $15 an hour. 3. How many hours of labor are needed to produce 10 bodies as cheaply as possible? What is the cost of producing the knitted bodies? Last, suppose that seamstresses are paid $20 an hour. 4. What is the total cost of producing 10 specialty tops? What is the per unit cost? 5. Suppose SuperFashion wanted to raise production to 20 specialty tops. Would the per unit cost of a top remain the same? Would it increase? Would it decline? Justify your answer.
Transcribed Image Text:SuperFashion produces specialty tops stitching two silk sleeves (S) to a knitted body (B). Stitching always takes 20 minutes of a seamstress time (LT). - Silk sleeves can be produced using Labor (Ls) and silk fabric (F) according to the production function S Ls1/3F2/3. Knitted bodies can be produced using labor (LB) and yarn (Y) according to the production function B = LB¹/4Y¹/4. L is measured in hours. SuperFashion wishes to produce 10 specialty tops. 1. How many silk sleeves and how many knitted bodies does SuperFashion need to produce? Does this number depend on the cost of labor, silk fabric or yarn? Suppose that silk fabric costs $20 while the labor services needed to produce silk sleeves cost $10 an hour. 2. How many yards of fabric and how many hours of labor are needed to produce 20 sleeves as cheaply as possible? What is the cost of producing the sleeves? Suppose that yarn costs $15 while the labor services needed to knit a body cost $15 an hour. 3. How many hours of labor are needed to produce 10 bodies as cheaply as possible? What is the cost of producing the knitted bodies? Last, suppose that seamstresses are paid $20 an hour. 4. What is the total cost of producing 10 specialty tops? What is the per unit cost? 5. Suppose SuperFashion wanted to raise production to 20 specialty tops. Would the per unit cost of a top remain the same? Would it increase? Would it decline? Justify your answer.
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