Smith and Jones Comprise a Two-Person Economy Suppose Smith and Jones Begin by Producing 16 Computers and of Production
Smith and Jones comprise a two-person economy. Their hourly rates of production are shown in the accompanying table.
Suppose Smith and Jones begin by producing 16 computers and 0 calculators per hour. If they wish to produce 14 computers and 40 calculators per hour efficiently, then Smith should spend ________, and Jones should spend ________.
A) 1 hour making computers; 40 minutes making computers and 20 minutes making calculators
B) 1 hour making computers; 20 minutes making computers and 40 minutes making calculators
C) 30 minutes making each; 30 minutes making each
D) 45 minutes making computers and 15 making calculators; 1 hour making calculators
Correct Answer:
Verified
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