microeconomics, Economics, Microeconomics

Assignment Help:
An economy has only one member Robinson Crusoe. Robinson allocates his time between fishing and collecting fruits. One hour spent finishing yields 4 fish. One hour spent collecting fruits yields 8 fruits. Robinson decided to work 8 hours a day. How to draw Robinson''s daily PPF with the number of fish on the horizontal axis and the number of fruits on the vertical axis. Label you diagram carefully.
B) For each of the following combinations of fruits and fish determine whether it is efficient, feasible or infeasible.
28 fish/day, 16 fruits/ day
16 fish/day, 32fruits/ day
18 fish/day, 24 fruits/day

Related Discussions:- microeconomics, Economics

Stock of durable goods on hand, Stock of durable goods on hand: If the...

Stock of durable goods on hand: If the economy has enjoyed an extended period of prosperity, consumers may find themselves well supplied with various durable goods, e.g. cars,

MRTS & MRS, What is the difference between MRTS & MRS?

What is the difference between MRTS & MRS?

Assignment, static & dynamic multiplier of keynision theory

static & dynamic multiplier of keynision theory

Keys of the profit maximisation in production technology, What are the keys...

What are the keys of the profit maximisation in production technology? Profit Maximization in production technology: a. Producer Behavior b. Producer’s Optimal Choice

Price and output determination, Ask question #Minimum sources of monopoly10...

Ask question #Minimum sources of monopoly100 words accepted#

Exchange, three marginal conditions of pareto optimality

three marginal conditions of pareto optimality

Participation in global system of production, Participation in Global Syste...

Participation in Global System of Production: As national economies are getting more inter-linked, the share of foreign components in most manufactured products is progressiv

Trend projection methods, An ole firm can use its own data of past years re...

An ole firm can use its own data of past years regarding its sales in past years. These data are known as time series of sales. A firm can predict sales of its product by fitting t

Demand and supply curve with externalities, # 1 Question: Consider a compet...

# 1 Question: Consider a competitive market for Berries. The market demand for the berries is Qd=50-P (Qd is the quantity demanded (cartons) and P is the price in $. The market sup

Production possibilities curve, what happen when a new resources has been d...

what happen when a new resources has been discovered for computer

Write Your Message!

Captcha
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