Topic 14: Productivity Experiment

In this experiment, I am the manager, which is the biggest role in the company. I have to hire a new worker every day to see how the production can increase or not. Besides hiring, I have to communicate with the workers about what is their job enable o let the whole body efficient. The experiment is basically to see how the production will be if there’s more workers even if some of them is getting unnecessary. In the beginning, when there was only one worker, we didn’t produce anything, but later when we got more than two workers, everyone has their own job; they can show their own skills to make the production faster. Later, the production started to have some problems such as stapler is stuck or some of the people are getting inefficient, which we might can called the law of diminishing returns. I think some of the reasons are because the scissors and the staplers are not enough, which we can call the capital. Also because as the labors increase, some of the workers are doing the same job with the additional workers are no longer efficient or maybe even started to distract or maybe delay the production. At first, I was thinking maybe throughout the increasing labors, we might can have more and more product be made, but I didn’t thought of our capital is limited, which in the end some of the labors can’t reach their maximum efficiency and even decrease the production of our product, widgets.

Topic 13: The Return of the Zeppelin

The determinants of demand are prices of related goods, expected future prices, income, expected future income and credit, population, and preferences. And for the determinants of supply, prices of factors of production, prices of related goods produced, expected future prices, number of suppliers, technology, and state of nature. According to the video, we can know that they successfully use preferences to let the customer get interested. They also successfully use their technology to improve air ship, which will be less likely for it to crash like Hindenberg disaster. For Zeppelin, the producer had change the gas inside the air ship in to helium. Besides, they had also installed some engine around the body of the air ship to support it. According to the video, since we know that there only three air ships in the world, and in US, Brian Hall is the only company that is running the air ship business; we can say that this market is a monopoly. In my opinion, I would want to try this kind of air ship. Although I might still afraid about the accident might happen just like Hindenberg, I would want to take a look at this enormous ship and have a great view through the sky, unless it needs to cost an amount of money.