Question
Your friend Taylor works producing dress shirts and dress pants. Currently Taylor can work a maximum of 8 hours per day. With the equipment Taylor
Your friend Taylor works producing dress shirts and dress pants. Currently Taylor can work a maximum of 8 hours per day. With the equipment Taylor has, and the current level of expertise, Taylor can finish either 10 shirts or 20 pairs of pants in an hour. This is true when Taylor is performing at full capacity. Meaning doing the best possible work.
Imagine now, that Taylor completes a training that doubles Taylor's capacity to make both shirts and pants per hour. a) What is the maximum number of shirts Taylor can make in a day? b) What is the maximum number of pants Taylor can make in a day? c) What does that tell you about the value of training (human capital) in production?
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