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Its ECO404 - Managerial Economics GDB 2022 Perfect
Solution. Students you can not copy this GDB Solution. You have to create
your own ECOO404 GDB 2022 Solution for achieving good marks. Its
an Idea Solution for your help and support. Last Date of GDB Submission is 31stAugust 2022. Raise For Success provide paid VU
GDB Solutions with unique answers. Required students can contact to us on our
Facebook/Instagram Page.Recommend you to Read:The Case:Tesla, an
American car manufacturer, developed a method that steadily reduced the
cost of the cars: the assembly line. Rather than having workers involved with
each component of the manufacturing of a vehicle, workers specialized in
certain areas. This innovation led to reduce the long run average cost of
the production.The firm
decided to produce tires themself which were purchased from other manufacturer
of the market. This production activity caused further decrease in the average
cost of cars produced by Tesla manufacturing.Likely,
they also learn from other car manufacturers that using specif feature will
lead to reduce defects in all their products and thus leads to decrease in
average costs via overall efficiency enhancement in the production methods.
Thus, Tesla manufacturer was further able to decrease the long run cost of
production.Discuss the
concepts related to cost analysis highlighted in the case of Tesla manufacturer.SOL:Idea Solution 1:In
our case tesla car company reduce the price and period of manufacturing(time)
of new cars reduce by increasing the capability and sepecialization of the
workers but they are not increasing the numbers of worker we think that the
number of workers should be increase because by increasing the working the
marginal cost of each extra workers would be decrease and the profit of company
will be increase. The price of cars would be decrease if company have its own
tires manufacturing department but it has advantages and disadvantage.
Advantages
= By increasing another department of tires manufacturing the overall cost of
cars would be decease. Because now company has its own material of
manufacturing of cars.
Disadvantages
= if matrial of tires manufacturing is not available in critical(such as flood,
earth quack, transport procession, political ) situation of country.The company
would be gone loss because company is already taken contract of new cars but
material is not available in such situation.The company would be totally
compelled to by tires from other company at every cost to complete his contract
on time.As you know as you older you will have experience and experience is
very important to increase the productivity,capability. So car company is learn form the other firms in
the market it has and this learnig is decrease the manufacturing of time and
increase the productivity of the product(cars).Overall we can say that all the
car company reduce of price and period of manufacturing of cars in above three
situation but it depend upon the economy of country(Technology) and politilcal
and geographical situation of that homeland.
In
our case tesla car company reduce the price and period of manufacturing(time)
of new cars reduce by increasing the capability and sepecialization of the
workers but they are not increasing the numbers of worker we think that the
number of workers should be increase because by increasing the working the
marginal cost of each extra workers would be decrease and the profit of company
will be increase. The price of cars would be decrease if company have its own
tires manufacturing department but it has advantages and disadvantage.
Advantages
= By increasing another department of tires manufacturing the overall cost of
cars would be decease. Because now company has its own material of
manufacturing of cars.
Disadvantages
= if matrial of tires manufacturing is not available in critical(such as flood,
earth quack, transport procession, political ) situation of country.The company
would be gone loss because company is already taken contract of new cars but
material is not available in such situation.The company would be totally
compelled to by tires from other company at every cost to complete his contract
on time.As you know as you older you will have experience and experience is
very important to increase the productivity,capability. So car company is learn form the other firms in
the market it has and this learnig is decrease the manufacturing of time and
increase the productivity of the product(cars).Overall we can say that all the
car company reduce of price and period of manufacturing of cars in above three
situation but it depend upon the economy of country(Technology) and politilcal
and geographical situation of that homeland.