Assume that the farmer and the rancher can switch between producing meat and producing potatoes at a constant rate. Table 2 Labor Hours Needed to Make 1 Pound of Pounds Produced in 24 Hours Meat Potatoes Meat Potatoes Farmer 4 4 6 3 Rancher 3 Refer to Table 2. Assume that the farmer and the rancher each has 24 labor hours available. If each person divides his time equally between the production of meat and potatoes, then total production is O a. 6 pounds of meat and 4.5 pounds of potatoes. O b. 5.5 pounds of meat and 8 pounds of potatoes. O c. 12 pounds of meat and 9 pounds of potatoes. O d. 5 pounds of meat and 5.5 pounds of potatoes.
Assume that the farmer and the rancher can switch between producing meat and producing potatoes at a constant rate. Table 2 Labor Hours Needed to Make 1 Pound of Pounds Produced in 24 Hours Meat Potatoes Meat Potatoes Farmer 4 4 6 3 Rancher 3 Refer to Table 2. Assume that the farmer and the rancher each has 24 labor hours available. If each person divides his time equally between the production of meat and potatoes, then total production is O a. 6 pounds of meat and 4.5 pounds of potatoes. O b. 5.5 pounds of meat and 8 pounds of potatoes. O c. 12 pounds of meat and 9 pounds of potatoes. O d. 5 pounds of meat and 5.5 pounds of potatoes.
Chapter1: Making Economics Decisions
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Transcribed Image Text:Assume that the farmer and the rancher can switch between producing meat and producing potatoes at a constant rate.
Table 2
Labor Hours Needed to
Make 1 Pound of
Pounds Produced
in 24 Hours
Meat
Potatoes
Meat
Potatoes
Farmer
14
4
6.
Rancher
8
8
3
Refer to Table 2. Assume that the farmer and the rancher each has 24 labor hours available. If each person divides his time equally between the production of meat
and potatoes, then total production is
O a. 6 pounds of meat and 4.5 pounds of potatoes.
b. 5.5 pounds of meat and 8 pounds of potatoes.
c. 12 pounds of meat and 9 pounds of potatoes.
d. 5 pounds of meat and 5.5 pounds of potatoes.
QUESTION 24
Refer to Table 2. Which of the following combinations of meat and potatoes could the farmer produce in 24 hours?
a. 1 pound of meat and 8 pounds of potatoes.
b. 2 pounds of meat and 2 pounds of potatoes.
O c. 1 pounds of meat and 5 pounds of potatoes.
d. 3 pounds of meat and 2 pounds of potatoes.
QUESTION 25
Refer to Table 2. Which of the following combinations of meat and potatoes could the rancher not produce in 24 hours?
a. 5 pounds of meat and 1 pounds of potatoes.
b. 2 pounds of meat and 2 pounds of potatoes.
c. 1 pounds of meat and 3 pounds of potatoes.
d. 4 pounds of meat and 1 pound of potatoes.
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