Smith and Jones comprise a two-person economy.Their hourly rates of production are shown below.
-Suppose Smith and Jones begin at the point of producing 0 computers and 220 calculators in one hour.If they wish to produce 2 computers and 200 calculators in one hour,then Smith will spend __________ and Jones will spend __________.
A) 30 minutes on each;30 minutes on each.
B) 48 minutes on computers and 12 minutes on calculators;1 hour on calculators.
C) 1 hour on calculators;10 minutes on computers and 50 minutes on calculators.
D) 6 minutes on computers and 54 minutes on calculators;10 minutes on computers and 50 minutes on calculators.
E) 12 minutes on computers and 48 minutes on calculators;1 hour on calculators.
Correct Answer:
Verified
Q54: The fundamental reason that a production possibilities
Q55: As Becky produces more and more butter,she
Q56: Smith and Jones comprise a two-person economy.Their
Q57: Which of the following statements best describe
Q58: An inefficient point is
A) necessarily an attainable
Q60: The following table describes Buffy's abilities to
Q61: Teddy's production possibilities curve for goods M
Q62: Production possibilities curves are downward sloping,reflecting the
Q63: Maria can produce 100 pounds of tomatoes
Q64: In a two-person,two-good economy,the benefits of labour
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents