microeconomics, Economics, Microeconomics

An economy has only one member Robinson Crusoe. Robinson allocates his time between fishing and collecting fruits. One hour spent finishing yields 4 fish. One hour spent collecting fruits yields 8 fruits. Robinson decided to work 8 hours a day. How to draw Robinson''s daily PPF with the number of fish on the horizontal axis and the number of fruits on the vertical axis. Label you diagram carefully.
B) For each of the following combinations of fruits and fish determine whether it is efficient, feasible or infeasible.
28 fish/day, 16 fruits/ day
16 fish/day, 32fruits/ day
18 fish/day, 24 fruits/day
Posted Date: 1/30/2012 5:00:51 PM | Location : United States







Related Discussions:- microeconomics, Economics, Assignment Help, Ask Question on microeconomics, Economics, Get Answer, Expert's Help, microeconomics, Economics Discussions

Write discussion on microeconomics, Economics
Your posts are moderated
Related Questions
explain 6 factors that determine volume of production

Direct and Indirect Benefits Life time earnings of an educated person is an instance of direct benefit from education. Skills produced in training or extension programmes in a


Five identical people live in a small town and can earn a living either by having cattle $100 or by becoming a singer. If one person competes their expected payment is 210, if two

how to solve Min (x+y/2, 2y+x, 3x)

Maurice has the following utility function: U (X; Y ) = 20X + 80Y ?? X2 ?? 2Y 2 where X is his consumption of CDs, with a price of $1, and Y is his consumption of movie videos, wit

This problem continues the analysis from question 2. a.Another economic study finds that the marginal cost (MC) to farmers of nutrient runoff abatement is MC = .1Q. Graph this f

explain diagrammatically the bains model of limit pricing.

ASIAN DEVELOPMENT BANK; In addition to the World Bank family, there are three other international lending agencies operating only in specific geographical area, but run on lin