This document summarizes key concepts related to production and cost analysis in the automotive industry. It discusses production functions, short and long run production, factors of production, production stages, isoquants, marginal rate of technical substitution, returns to scale, and provides an overview of Maruti Suzuki Ltd. It also examines fixed and variable costs, average and marginal costs, trend lines, breakeven analysis, and cost elasticity as they relate to automotive production.
Swot analysis of automobile industry in IndiaShri Theja
SWOT is an important tool to understand the internal and external that affect on company's operations. This is a presentation on Swot analysis of automobile industry in India; that will help students of MBA, BBM and other discipline during exams and presentations.
Swot analysis of automobile industry in IndiaShri Theja
SWOT is an important tool to understand the internal and external that affect on company's operations. This is a presentation on Swot analysis of automobile industry in India; that will help students of MBA, BBM and other discipline during exams and presentations.
The basic function of a firm is to produce one or more goods and /or services and sell them in the market.
Production requires employment of various factors of production, which are substitutes among themselves to certain extent.
Thus, every firm has to decide what combination of various factors of production, also called inputs, to choose to produce a certain fixed or variable quantities of a particular good.
The problem is referred to as “ how to produce?”
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US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
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when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
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Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
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what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
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1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Card
Production Function & cost elasticity Maruti Suzuki
1. Economics Project- Production & Cost Analysis
Automotive Industry - Maruti Suzuki Ltd
Group No 4 :
Akhilendra Tiwari (EM01)
Deepesh Pandey (NMP65)
2. Production
What is production?
Production is the process that transforms
inputs into output.
Production is the process by which the
resources (input) are transformed into a
different and more useful commodity. Various
inputs are combined in different quantities to
produce various levels of output.
3. A production function refers to the functional relationship, under the
given technology, between physical rates of input and output of a firm, per
unit of time.
Q = f ( a, b, c…..n T) ; Q = f ( K, L)
Short run:
Short run refers to a period of time in which supply of certain factor inputs
is fixed or inelastic.
Long run:
Long run refers to a period of time in which the supply of all the inputs is
elastic, but not enough to permit a change in technology.
Very long period:
Very long period refers to a period of time in which along with all other
factor inputs, the technology of production can also be changed.
Production Function
4. Key Terms in Production Analysis
Total product (TP): The total amount of output
resulting from a given production function
Average product(AP): Total product per unit of
given input factor.
Marginal product(MP): The change in total
product per unit change in given input factor.
5. Managerial Use of Production
Function
Least-Cost-
Factors
combination
Breakeven Qty
Economics of
Scale
Optimum level
of output
Programming
technique in
production
planning-
Returns to scale
6. Short run Analysis
Law of diminishing marginal returns
• As more and more units of a variable factor
input are employed, all other input quantities
held constant, the total output may initially
increase at an increasing rate and then at a
constant rate but it will eventually increase at
diminishing rates.
• During short period, under the given state of
technology and other conditions remaining
unchanged, with the given fixed factors, when
the units of a variable factor are increased in
the production function in order to increase
the TP, the TP initially may rise at an increasing
rate and after a point it tends to increase at a
decreasing rate because the MP of the
variable factor in the beginning may tend to
rise but eventually tend to diminish.
7. Three stages of production
Stage I: Increasing Returns
TP increases at increasing rate, indicated by
increasing MP.
There is intermediary constant stage
between stage I & stage II. TP increases at a
constant rate indicated by constant MP
Stage II: Diminishing Returns
TP continues to increase but at diminishing
rates, indicated by declining MP
Stage III: Negative Returns
TP begins to decline, indicated by negative
MP
8. Production function with Two
Variables
This may be taken either as a short run or a
long run analysis of production process.
Long run analysis : The firm uses only two inputs
and both of them are variable.
Short run analysis : The firm uses more than two
inputs but only two of them are variable and others
are fixed.
Isoquants : An Isoquant is a curve representing
various combinations of two variable inputs that
produce same amount of output. This is also known
as Iso-Product curve, Equal-Product curve or
Production Indifference curve.
9. Properties of Isoquants
• Downward sloping (negatively inclined)
• Convex to origin (MRTS)
• Higher Isoquant represents larger output
• No two Isoquants intersect
Types of Isoquants
• Smooth, convex isoquants – Continuous
substitutability over a certain range between the
input factors
• Linear isoquants-
Perfect substitutability between factors of
production
• Input-Output isoquants
Strict complimentarily / zero substitutability
between input factors (fixed factor – proportion
isoquants)
Linear Isoquant
Input Output Isoquant
Smooth Isoquant
10. Marginal Rate of Technical Substitution
MRTS is the number of units of an input factor ( ex: K ) that a producer is willing to
sacrifice for an additional unit of another input factor (ex: L) , so as to maintain the
same level of output. (i.e. to remain on the same isoquant.)
On a convex isoquant the MRTS decreases along the isoquant and can become zero.
A zero MRTS determines the minimum quantity of an input which must be used to
produce a given output. Beyond this point an additional employment of one input
will necessitate employing additional units of other input.
A ridge line is the locus of points of
isoquants where MP of input is zero.
11. • Input Prices & Isocost Line
• Optimal Factor Combination
• Production of given output at given cost
• Production of max. output with the given level of cost
• Changes in firm’s resources & output:Expansion path
• Changes in factor prices and choice of technique
• MPL/ MPk = -(w/r)= MRTS
At this point on the graph the slopes of the isoquant and
the isocost line are the same.
Therefore in order to minimize the cost of producing the
desired level of output, a firm should utilize the
combination of inputs such that the MRTS is equal to the
ratio of input prices.
This is referred to as the cost-minimizing input rule.
12. Law of Return to Scale
The percentage increase in output when all inputs vary in the same proportion is
known as returns to scale. It obviously relates to greater use of inputs maintaining
the same technique of production.
Three Situations of Returns To Scale
Increasing Returns to Scale – Output increases by a greater proportion than the
increase in input.
Constant Returns to Scale – Output increases in same proportion as increase in
inputs.
Decreasing Returns to Scale – Output increases in a lesser proportion than the
increase in input.