Question
You run a store that sells shirts. This year you want to sell a thousand shirts. You have several different techniques that you could use.
You run a store that sells shirts. This year you want to sell a thousand shirts. You have several different techniques that you could use. Each requires some energy (measured in calories ) and some humans. Below are listed the requirements to sell a thousand shirts:
Technique 1: one human and two calories
Technology 2: three humans and one calorie
Technology 3: four humans and three calories
Technology 4: two humans and four calories
Technology 5: eight humans and six calories
A- Which techniques are dominated and which techniques dominate them? draw a diagram.
B- In 2024, each calorie costs $20 and each human costs $30. Which technique is cheapest to use?
C- Between 2024 and 2030, inflation struck. The price of calories doubled and so did the humans wages. How did this inflation affect the choice of technologies?
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