Smith and Jones comprise a two-person economy. Their hourly rates of production are shown below. $$\begin{array} { | l | c | c | }
\hline & \begin{array} { c }
\text { Calculators } \
\text { Per Hour }
\end{array} & \begin{array} { c }
\text { Computers } \
\text { Per Hour }
\end{array} \
\hline \text { Smith } & 100 & 10 \
\hline \text { Jones } & 120 & 6 \
\hline
\end{array}$$ 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 ______.

Question

Smith and Jones comprise a two-person economy. Their hourly rates of production are shown below. $$\begin{array} { | l | c | c | } 
\hline & \begin{array} { c } 
\text { Calculators } \
\text { Per Hour }
\end{array} & \begin{array} { c } 
\text { Computers } \
\text { Per Hour }
\end{array} \
\hline \text { Smith } & 100 & 10 \
\hline \text { Jones } & 120 & 6 \
\hline
\end{array}$$ 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 ______.

Quizplus · Accepted Answer

Smith should spend 1 hour on computers and 40 minutes on calculators, while Jones should spend 20 minutes on computers and 40 minutes on calculators. This is because Smith is more efficient at producing computers, while Jones is more efficient at producing calculators.

Smith and Jones Comprise a Two-Person Economy Suppose Smith and Jones Begin by Producing 16 Computers and of Production