ECON 1100 1nd Edition Lecture 16 Outline of Last Lecture I. Income & Substitution EffectsII. Wage EffectOutline of Current Lecture I.FutureII.ExperimentCurrent LectureI. FutureProf. Solow mainly talked about what is going to be coming up in the semesterNatural people = human beingsOther people = corporationsConstraint from:InputTime of workersRaw materialsServices from equipmentTechnologyLimits of how much can be producedCompetitionOther firms exist selling same productHow to get people to buy your productThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.II. ExperimentMaking airplanesHow much can be produced in a limited amount of time with set number of workers How do you organizeMake individuallyAssembly lineResult: discuss more Friday# Workers Output0 02 24 98
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