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What is the economic explanation for the reduction

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Reference no: EM132312529

Suppose that in the Robinson Crusoe economy, Robinson finds a friend called Friday. Further suppose that Robinson can produce 10 pounds of fish per hour or 20 pounds of coconuts per hour and Friday can produce 20 pounds of fish per hour or 10 pounds of coconuts per hour. Robinson and Friday both want 60 pounds of fish and 60 pounds of coconut per day. How many hours must Robinson and Friday work per day if they don't help each other? Suppose they decide to work together in the most efficient manner possible. How many hours each day do they have to work? what is the economic explanation for the reduction in hours?

Reference no: EM132312529

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