Journal Topic 14 - Productivity Experiment

In the beginning, with only one worker, the production was really slow. Then, when there’s a second worker, the production gradually becomes faster. After 4 and 5 workers come in to join the company, the company still has a increasing and accumulating production. However, until the sixth worker, law of diminish returns appear because one the one more member join. That one member is useless to the company because the company has already fulfilled the requirements to produce to the maximum in the fifth worker. Division of labor isn’t really efficient also because Jimmy Chuang doesn’t assign the work really well, and he didn’t recognize people’s specializations. However, after some gaining experiences from Jimmy, he assign people who are better at cutting folding or stamping, which is giving people their specializations. Things weren’t expected people our company’s workers started the job when the company hasn’t open yet, so it’s inaccurate. No surprise at all. In a short run people should adjust one of the variable cost such as how many workers should work in their company, because if there’s too many workers in a company, the company might faces the law of diminish returns. In a long run, they should worry about all their variable cost including all of the factor of production such as how many labor to get, how many capital should they use to maximize their total revenue, and how to use their entrepreneurship.  

Journal Topic 13: The Return of the Zeppelin

The things that determines whether to demand of the return of the Zeppelin can be contradictory because from the Hindenburg accident, a lot of people die, and it might make a negative view of an airship, therefore, people won’t going to demand it. Another perspective is people might demand a lot of Zeppelins and Airships because people often like to take risk and other people also will like to look around the world by a airship since a lot of people might be waiting for their coming ups since 70 years ago, like the guy in the video.  Technologies have changed a lot of the functioning of the airship, so therefore, people feel safer to use a airship since it’s more well made than before. Just like airplane, people died a lot before from airplane accidents, but it’s lessen everything when technology improves. I think it’s a monopolistic because only a few competitors compete with each and another. It’s really close to a monopoly because the video says that only 3 airships are in the world now. First of all, is the quality of the airship, and then the improvement of the safety and technology, and the cost of the airship might be three important factors for demanding an airship. If an airship improves its technology or safety, people will demand more and successfully. Quality is another important factor or determinant for demanding an airship because people often decide to buy or not by its quality. It’s a great idea that people can travel and enjoy seeing the whole view of the world by airships. Under the circumstances of the most important, safety and high technology because it’s the most important thing to be safe and settled down when doing any kinds of thing.