EAS Publisher | The Modeling of the Biggest Total Cost and Labor in Terms of Pk and Quantity with Economics

The Modeling of the Biggest Total Cost and Labor in Terms of Pk and Quantity with Economics

DOI : https://doi.org/10.36349/easjecs.2021.v04i05.002

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The biggest total product maintains 30 piece with the labor changing.The biggest average product may decrease sluggishly from 0.45 to 0.37 MPK will decrease from 67 to 7 Yuan when the total cost is 71Yuan/min with γ=0.15 and Pk=1.5. The turn of effective factors is MPK>TP>AP>MPL for defining total cost and MPL>TP>AP>MPK for defining quantity in the biggest total product with the best L & K. The biggest average product declines from 0.25 to 0.22 with quantity increasing from 2 to 4 respectively. The biggest total cost will decrease from 0~2.2 to 0~0.8 when labor increases meantime MPL maintains a constant about 0~2.2.

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