What are intercepts of the production possibility frontier

Reference no: EM13204164

Consider an economy with just one technique available for the production of each good, food and cloth:

GOOD----------------FOOD---CLOTH
Labor per unit output.....1..........1
Land per unit output......2..........1

Supposing labor equals 100 and land equals 150, write and sketch the production possibility frontier. (Hint: What are the intercepts of the production possibility frontier? When is land fully employed?

Reference no: EM13204164

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