24 29 Pies 14 Vhich of the following is true about point A? a. Robert is making only pies, Egg is making only pies and Merrick is making bread and pies b. Merrick is making only pies and Egg and Robert are making only bread c. Egg is making bread, Robert is making bread, Merrick is making both bread and pies d. Merrick is making pies, Egg is making both pies and bread, Robert is making only bread.
24 29 Pies 14 Vhich of the following is true about point A? a. Robert is making only pies, Egg is making only pies and Merrick is making bread and pies b. Merrick is making only pies and Egg and Robert are making only bread c. Egg is making bread, Robert is making bread, Merrick is making both bread and pies d. Merrick is making pies, Egg is making both pies and bread, Robert is making only bread.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter22: Frontiers Of Microeconomics
Section: Chapter Questions
Problem 6PA
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QUESTION 14
Suppose there are three people that can bake bread or making pies. The first is Merrick whose opportunity cost of making pies is 1/2 a loaf of bread. Egg's opportunity cost is 1 loaf of bread per pie.
Robert's opporunity cost is 2 loaves of bread per pie. The daily joint PPF is depicted below:
Loav es
of Bread
27
• E
20
10
24
29
Pies
14
Which of the following is true about point A?
a. Robert is making only pies, Egg is making only pies and Merrick is making bread and pies
b. Merrick is making only pies and Egg and Robert are making only bread
c. Egg is making bread, Robert is making bread, Merrick is making both bread and pies
d. Merrick is making pies, Egg is making both pies and bread, Robert is making only bread.
QUESTION 15](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feadc0f91-6e4f-4314-9c19-00c9930c0770%2F6a47874e-7888-409e-a34e-d79dd45c7779%2Fdu7dy3q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:v Question Completion Status:
QUESTION 14
Suppose there are three people that can bake bread or making pies. The first is Merrick whose opportunity cost of making pies is 1/2 a loaf of bread. Egg's opportunity cost is 1 loaf of bread per pie.
Robert's opporunity cost is 2 loaves of bread per pie. The daily joint PPF is depicted below:
Loav es
of Bread
27
• E
20
10
24
29
Pies
14
Which of the following is true about point A?
a. Robert is making only pies, Egg is making only pies and Merrick is making bread and pies
b. Merrick is making only pies and Egg and Robert are making only bread
c. Egg is making bread, Robert is making bread, Merrick is making both bread and pies
d. Merrick is making pies, Egg is making both pies and bread, Robert is making only bread.
QUESTION 15
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