Sir I need a numerical data for short run engineering analysis
Can You Explain The Engineering Cost Curves?
The engineering cost curve is derived with the help of engineering production function. The production function specified the techniques of production, the embodiment of labor and capital etc. it means that in each technique of production such activates operates which are concerned with the physical and technical situation of nay product. In physical and technical state of affairs the quantities of factors of production are assessed. Then on the basis of factor prices the cost of each technique of production are evaluated. If we sum the cost of production of different techniques the total costs of the firm are attained. It is told that such estimates are made on the basis of sizes of exciting and available plants. Then the production function is assessed and finally the short run and long run cost curves are derived.
The engineering production function and engineering cost curve are concerned with the production costs. They have nothing to do with the managerial costs. The engineering production function is confined to some techniques of production which state that the factor of the production can be substituted up to a specific limit. In other words the engineering production function is kinked with Isoquant which sate that factors of production are substitutable in the range of kinked part of Isoquant.
The engineering production function and engineering cost curve are concerned with the production costs. They have nothing to do with the managerial costs. The engineering production function is confined to some techniques of production which state that the factor of the production can be substituted up to a specific limit. In other words the engineering production function is kinked with Isoquant which sate that factors of production are substitutable in the range of kinked part of Isoquant.
We cant say perfectly engineering cost curve. I complete my education from Nagpur engineering colleges and I learn there that, they technically state the affairs of quantities of factors of production are assessed.
