4. Production Possibility Frontier An economy consists of three workers: Shen, Antonio, and Dmitri. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Shen can either mow 1 lawn or wash 1 car; Antonio can either mow 1 lawn or wash 2 cars; and Dmitri can either mow 2 lawns or wash 1 car. For each of the scenarios listed in the following table, determine how many lawns will be mowed and how many cars will be washed per day and enter these values into the corresponding row. Scenario All three spend all their time mowing lawns. (A) All three spend all their time washing cars. (B) All three spend half their time on each activity. (C) Shen spends half his time on each activity, while Antonio only washes cars and Dmitri only mows lawns. (D) In the following table, identify the opportunity cost of washing cars for each worker. Opportunity Cost of Washing Cars Worker Shen Antonio Dmitri Lawns Mowed Cars Washed

4. Production Possibility Frontier An economy consists of three workers: Shen, Antonio, and Dmitri. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Shen can either mow 1 lawn or wash 1 car; Antonio can either mow 1 lawn or wash 2 cars; and Dmitri can either mow 2 lawns or wash 1 car. For each of the scenarios listed in the following table, determine how many lawns will be mowed and how many cars will be washed per day and enter these values into the corresponding row. Scenario All three spend all their time mowing lawns. (A) All three spend all their time washing cars. (B) All three spend half their time on each activity. (C) Shen spends half his time on each activity, while Antonio only washes cars and Dmitri only mows lawns. (D) In the following table, identify the opportunity cost of washing cars for each worker. Opportunity Cost of Washing Cars Worker Shen Antonio Dmitri Lawns Mowed Cars Washed

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 9SQP

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