4. Consider a production economy consisting of two kinds of agents, "Robinson" and "Friday". For "Robinson", each agent's production possibilities set is F+ 2C < 20, where F denotes fish, and C denotes coconuts. For "Friday", each agent's production possibilities set is 2F + C < 30. There are 20 "Robinson" and 30 "Friday" in an economy, then the function expression of production possibility frontier is

4. Consider a production economy consisting of two kinds of agents, "Robinson" and "Friday". For "Robinson", each agent's production possibilities set is F+ 2C < 20, where F denotes fish, and C denotes coconuts. For "Friday", each agent's production possibilities set is 2F + C < 30. There are 20 "Robinson" and 30 "Friday" in an economy, then the function expression of production possibility frontier is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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