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The Skittles Mini-Factory, A Cardboard Machine Capable of Sorting and Bagging Skittles by Color description: These sorts of items are generally just fun examples to
The Skittles Mini-Factory, A Cardboard Machine Capable of Sorting and Bagging Skittles by Color
description:
These sorts of items are generally just fun examples to use in order to illustrate the substitutability of labor and capital in production and, if students are feeling fancy, talk about what the marginal rate of technical substitution would look like.
http://blogs.wsj.com/economics/2015/01/16/why-a-big-swing-in-jet-fuel-costs-brings-small-change-to-airfares/?mod=WSJBlog
tags: labor vs. capital
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