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In a story on technological unemployment, a plant manager at Amazon said that Each [robot] can produce the same amount as 1 workers. a. Suppose
In a story on technological unemployment, a plant manager at Amazon said that "Each [robot] can produce the same amount as 1 workers." a. Suppose robots and workers are perfectly substitutable inputs. Write an equation for the plant's production function that accurately describe their production. b. Given your production function, if the cost of labor is $1,600/ week and the cost of capital is $ 2,000/week, how many workers and how many robots will the plant use to produce 50,000 packages
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