What is the economic explanation for the reduction

Assignment Help Business Management
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

Questions Cloud

Condition of pareto efficiency in a production economy : What is the condition of Pareto efficiency in a production economy? Explain the economic intuition of it.
What are the pros and cons of requiring patients to enter : Can this type of system be best controlled through managed care? What are the pros and cons of requiring patients to enter the health care system through.
Write policy brief regarding issue relevant to health policy : Write a policy brief regarding an issue relevant to health policy of 1,000-1,250 words. Include the following: Implications and recommendations.
Brief biography about your favorite leader or role model : A brief biography about your favorite leader/role model - Available Visionary Accountable Self-Managed Honest Believes in team work Effective communicator
What is the economic explanation for the reduction : How many hours each day do they have to work? what is the economic explanation for the reduction in hours?
What are the weaknesses of the compensation method : Write a 2-page report of your findings. Specifically, address strengths and weaknesses of this compensation method, both from the point of view of the health.
Identify an existing at-risk population : Identify an existing at-risk population. Using aggregated statistics, include identified criteria and data that substantiates why this population is at risk.
What distinctive characteristics of public health necessary : Describe professionalism in the context of public health. What skills, attributes, and behaviors are expected of the public health professional?
Determinants of economic growth : How do the typical determinants of economic growth compare and contrast with these factors?

Reviews

Write a Review

Business Management Questions & Answers

  Explain the elements of a legal contract using examples

Define the elements of a legal contract using examples from the scenario where applicable. Identify the facts from the scenario which support your decision on whether or not a contract exists for the purchase of the automobile.

  What is considered the reasonable time

What is considered the reasonable time that the buyer can advise the seller of defects in delivered goods.

  Argentina and renewable energy in argentina

Explain the regulatory/legal issues that need to be considered for Argentina and renewable energy in Argentina.

  Budget set in terms of leisure

Define and graph your budget set in terms of leisure (equal to non-worked hours) -Good 1- and "money spent on every other good" -Good 2-.

  Discuss ethical implication of leaders role in socialization

Discuss the ethical implications of a leader's role in the socialization of new hires into the preexisting culture of an organization. What impact does socialization have on both individual and organizational effectiveness?

  Homogeneous-agent models and heterogeneous-agent models

What is the difference between homogeneous-agent models and heterogeneous-agent models?

  Expected sales of air-conditioning systems for next year

Estimate the expected sales of air-conditioning systems for next year.

  Review porters five forces model

concepts to analyse the information and use the evidence/facts in the case to support your analysis - Conduct a value chain analysis

  Discuss how three virtues apply to the mattel case

In a well-written 4- to 5-page paper, discuss how three virtues apply to the Mattel case. Before you begin to write up your Case, let's consider what is meant by "critical thinking."

  Phenomenon and comment on the business implications

Briefly use agency and stewardship theory to explain the incident/phenomenon, and comment on the business implications.

  Emphasized global standardization

Why do think that Roberto Goizueta switched from a stategy that emphasized location towards one that emphasized global standardization?

  According to robert dees book resilient leaders

According to Robert Dees' book 'Resilient Leaders', what are the three most important concepts discussed from chapters 3 to 5?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd