Discussion Coursework Example | Topics and Well Written Essays - 250 words - 37

Discussion - Coursework Example For the cost minimization situation of the firm is to choose a combination of input resources suitable for the desired output production that has the least cost. A production c minimizing input equation is a point on the isoquant for the given production function that is on the lowest point of the isocost line. The cost is minimal when the input combination is optimal. In the case of McDonalds, the choice of taking up automation is related to the increase in wages. An increase in wages results to an increase in the cost of production. For McDonalds to have the minimal input combination it is advisable to adopt automation, which will reduce the input cost, since the automation will be more accurate in taking orders and there is no fatigue so the service is executed evenly throughout the day. In addition, costs attributed to labor such as holiday leave or medical insurance will be removed. Therefore, an increase in wages will increase the output production cost, for MacDonalds to operate at the minimal cost it will take the lowest optimal point on the isocost and isoquant curve. This suggests that it must adopt automation to reduce the production cost to the

Persuasive Letter Essay Example | Topics and Well Written Essays - 500 words - 1

Persuasive Letter - Essay Example The society has suffered both social and economic losses given that human health, property, infrastructure as well as various aspects of the economy such as agriculture have been made untenable due to the harsh weather conditions. As of this moment, the WHO in conjunction with several governments continues to report high incidence of heat and cold related diseases. Moreover, developing nations whose citizenry depend on natural resources for income, have found it hard to earn a living. In as much as the advancements brought about by the past and current generations have made our way of life simpler, some of them have caused environmental degradation. This has in turn resulted into climate change. One reality that the current generation should not turn a deaf ear on is the fact that we have our ancestors to thank for subjecting the environment to wise use during their lifetime. As that has enabled us to make something out for ourselves. From where I sit, I presume true the fact that for us to hand over an intact world to the future generations, then we have to adjust our way of life. Moreover, every person within the world should make sacrifices for the adjustments to bring about considerable effect. Some of the sacrifices for example will require that we not only recycle but also reuse some of the local materials such as paper, plastic, cardboard, aluminum among others (Tokar 55). Similarly, we need to reduce the amount of energy that we consume as we spend many n atural resources in producing the energy, and too much production will exhaust the natural resources. In order to reduce the consequences of climate change, we will need to employ the use of ecofriendly cleaning products, and not those that lead to emission of poisonous materials that lead to the erosion of the ozone layer. At the same time, we should change our eating habits and prepare