Use the table below to choose the correct answer. The table outlines the production possibilities of Robinson Crusoe and Joe Friday. If Crusoe and Friday want to maximize their consumption possibilities,
A) Crusoe should specialize in producing good X and Friday in producing good Y, but no trade should be allowed.
B) Crusoe should specialize in producing good X and Friday in producing good Y; trade should occur to maximize joint consumption.
C) Crusoe should specialize in producing good Y and Friday in producing good X; trade should occur to maximize joint consumption.
D) both individuals should strive for self-sufficiency, which always maximizes output.

Question

Use the table below to choose the correct answer. The table outlines the production possibilities of Robinson Crusoe and Joe Friday.  If Crusoe and Friday want to maximize their consumption possibilities,
A) Crusoe should specialize in producing good X and Friday in producing good Y, but no trade should be allowed. 
B) Crusoe should specialize in producing good X and Friday in producing good Y; trade should occur to maximize joint consumption. 
C) Crusoe should specialize in producing good Y and Friday in producing good X; trade should occur to maximize joint consumption. 
D) both individuals should strive for self-sufficiency, which always maximizes output.

Quizplus · Accepted Answer

The Answer of Use the table below to choose the correct answer. The table outlines the production possibilities of Robinson Crusoe and Joe Friday.  If Crusoe and Friday want to maximize their consumption possibilities,
A) Crusoe should specialize in producing good X and Friday in producing good Y, but no trade should be allowed. 
B) Crusoe should specialize in producing good X and Friday in producing good Y; trade should occur to maximize joint consumption. 
C) Crusoe should specialize in producing good Y and Friday in producing good X; trade should occur to maximize joint consumption. 
D) both individuals should strive for self-sufficiency, which always maximizes output.

Use the Table Below to Choose the Correct Answer