1. Tommy and Ariel are taking an English class and a Math class together. They are supposed to write book reports in their English class and do problem sets in their Math class. Fill in the chart below with the appropriate opportunity costs а. Вook Problem OCpook ОСproblem set report Reports/hr Sets/hr Tommy 4 Ariel 3 2 b. Assume Ariel and Tommy each spend 3 hours a week on homework, draw Ariel's Production Possibilities Frontier if she works alone with book reports on the horizontal axis and problem sets on the vertical axis.

1. Tommy and Ariel are taking an English class and a Math class together. They are supposed to write book reports in their English class and do problem sets in their Math class. Fill in the chart below with the appropriate opportunity costs а. Вook Problem OCpook ОСproblem set report Reports/hr Sets/hr Tommy 4 Ariel 3 2 b. Assume Ariel and Tommy each spend 3 hours a week on homework, draw Ariel's Production Possibilities Frontier if she works alone with book reports on the horizontal axis and problem sets on the vertical axis.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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c) Assume she spends one hour writing book reports and two hours doing problem sets each week.Label the work she does ( producction) and the work she gets credit for(consumption) without trade A

1. Tommy and Ariel are taking an English class and a Math class together. They are supposed to write
book reports in their English class and do problem sets in their Math class.
Fill in the chart below with the appropriate opportunity costs
а.
Вook
Problem
OCpook
ОСproblem set
report
Reports/hr
Sets/hr
Tommy
4
Ariel
3
2
b. Assume Ariel and Tommy each spend 3 hours a week on homework, draw Ariel's
Production Possibilities Frontier if she works alone with book reports on the
horizontal axis and problem sets on the vertical axis.

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