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Explain why the production possibilites frontier has

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Reference no: EM13315773

An economy consists of three workers: Larry, Moeand Curly. Each works ten hours a day and can producetwo services: mowing lawns and washing cars.In an hourLarry can either mow one lawn or wash one carMoe can either mow one lawn or wash two carsCurly can either mow two lawns or wash one carCalculate how much of each services is produced under thefollowing circumstances which we label A, B, C, and D

i. All three spend all their time mowing lawns (A)

ii. All three spend all their time washing cars(B)

iii. All three spend half their time on each activity (C)iv. Larry spends half his time on each activity, while Moeonly washes cars and Curly only mows lawns (D)

b.Graph the production frontier for this economy.

C.Explain why the production possibilites frontier has the shap it does.

Reference no: EM13315773

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