Widget Production Activity

Document created by jennifer.imazeki on Apr 6, 2015Last modified by jennifer.imazeki on Apr 6, 2015
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Widget production

Students have fixed capital and must create ëwidgetsí (folded and stapled paper); labor is increased in each round. Resulting production data is used to calculate total, marginal and average production and costs. [decreasing marginal product/increasing marginal costs]

    • For large classes, can be done with a sub-set of students as a demonstrations for the rest of the class.
    • There are many ways to vary this activity by varying the good produced (e.g., this variation is about making peanut-butter and jelly sandwiches).