Assume that Maya and Miguel can switch between producing mixers and producing toasters at a constant rate. Hours Needed to Make 1 Amount Produced in 60 Hours Toaster Mixer Toaster Mixer 3 10 20 Мaya Miguel 6 10 6 12 Refer to Table 3-9. Assume that Maya and Miguel each has 60 hours available. If each person divides his/her time equally between the production of mixers and oasters, then total production is O a. 8 mixers and 16 toasters. O b. 3.5 mixers and 6 toasters. O c. 15 mixers and 9 toasters. O d. 20 mixers and 12 toasters.

Assume that Maya and Miguel can switch between producing mixers and producing toasters at a constant rate. Hours Needed to Make 1 Amount Produced in 60 Hours Toaster Mixer Toaster Mixer 3 10 20 Мaya Miguel 6 10 6 12 Refer to Table 3-9. Assume that Maya and Miguel each has 60 hours available. If each person divides his/her time equally between the production of mixers and oasters, then total production is O a. 8 mixers and 16 toasters. O b. 3.5 mixers and 6 toasters. O c. 15 mixers and 9 toasters. O d. 20 mixers and 12 toasters.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 25RQ: In choosing a production technology, how will firms react if one input becomes relatively more...

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In choosing a production technology, how will firms react if one input becomes relatively more expensive?
What does a production possibilities frontier illustrate?
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viting this editorial? Alexi and Tony own a food truck that serves only two items, street tacos and Cuban sandwiches. As shown in the table, Alexi can make 80 street tacos per hour but only 20 Cuban sandwiches. Tony is a bit faster and can make 100 street tacos or 30 Cuban sandwiches in an hour. Alexi and Tony can sell all the street tacos and Cuban sand- wiches that they are able to produce. Alexi up Tony Output Per Hour Street Tacos Cuban Sandwiches 80 100 20 30 a. For Alexi and for Tony, what is the opportunity cost of a street taco? Who has a comparative advantage in the pro- duction of street tacos? Explain your answer. b. Who has a comparative advantage in the production of Cuban sandwiches? Explain your answer. c. Assume that Alexi works 20 hours per week in the busi- ness. Assuming Alexi is in business on her own, graph the possible combinations of street tacos and Cuban sand- wiches that she could produce in a week. Do the same for Tony. d. If Alexi devoted half of her time…
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