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Macroeconomics 6th Edition by Robert Hall,Marc Lieberman
Edition 6ISBN: 978-1111822354Macroeconomics 6th Edition by Robert Hall,Marc Lieberman
Edition 6ISBN: 978-1111822354 Exercise 6
Suppose that two different castaways, Mr. and Mrs. Howell, end up on a different island. Mr. Howell can pick 1 pineapple per hour, or 1 coconut. Mrs. Howell can pick 2 pineapples per hour, but it takes her 2 hours to pick a coconut.
a. Construct a table like Table 1 showing Mr. and Mrs. Howell's labor requirements.
Table 1 Labor Requirements for Fish and Berries
![Suppose that two different castaways, Mr. and Mrs. Howell, end up on a different island. Mr. Howell can pick 1 pineapple per hour, or 1 coconut. Mrs. Howell can pick 2 pineapples per hour, but it takes her 2 hours to pick a coconut. a. Construct a table like Table 1 showing Mr. and Mrs. Howell's labor requirements. Table 1 Labor Requirements for Fish and Berries b. Who-Mr. or Mrs. Howell-has a comparative advantage in picking pineapples? In picking coconuts? Which of the two should specialize in which tasks? c. [Harder] Assume that Mr. and Mrs. Howell had originally washed ashore on different parts of the island, and that they originally each spent 12 hours per day working, spending 6 hours picking pineapples and 6 hours picking coconuts. How will their total production change if they find each other and begin to specialize?](https://d2lvgg3v3hfg70.cloudfront.net/SM2831/11eb7367_8aa1_624f_9c10_3d558d7f1d00_SM2831_00.jpg)
b. Who-Mr. or Mrs. Howell-has a comparative advantage in picking pineapples? In picking coconuts? Which of the two should specialize in which tasks?
c. [Harder] Assume that Mr. and Mrs. Howell had originally washed ashore on different parts of the island, and that they originally each spent 12 hours per day working, spending 6 hours picking pineapples and 6 hours picking coconuts. How will their total production change if they find each other and begin to specialize?
a. Construct a table like Table 1 showing Mr. and Mrs. Howell's labor requirements.
Table 1 Labor Requirements for Fish and Berries
b. Who-Mr. or Mrs. Howell-has a comparative advantage in picking pineapples? In picking coconuts? Which of the two should specialize in which tasks?c. [Harder] Assume that Mr. and Mrs. Howell had originally washed ashore on different parts of the island, and that they originally each spent 12 hours per day working, spending 6 hours picking pineapples and 6 hours picking coconuts. How will their total production change if they find each other and begin to specialize?
Explanation
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(a) Following table shows the quantum of...
Macroeconomics 6th Edition by Robert Hall,Marc Lieberman
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