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 Group of answer choices 6 pounds of meat and 4.5 pounds of potatoes. 5.5 pounds of meat and 8 pounds of potatoes. 12 pounds of meat and 9 pounds of potatoes. 5 pounds of meat and 5.5 pounds of potatoes.
Table 3-7
Assume that the farmer and the rancher can switch between producing meat and producing potatoes at a constant rate.
| Labor Hours Needed to Make 1 Pound of | Pounds Produced in 24 Hours | |||
| Meat | Potatoes | Meat | Potatoes | |
| Farmer | 6 | 4 | 4 | 6 |
| Rancher | 3 | 8 | 8 | 3 |
Refer to Table 3-7. 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
6 pounds of meat and 4.5 pounds of potatoes.
5.5 pounds of meat and 8 pounds of potatoes.
12 pounds of meat and 9 pounds of potatoes.
5 pounds of meat and 5.5 pounds of potatoes.
The following table contains information about the units of meat and potatoes produced by farmer and rancher.
If an individual allots his total time between the manufacture of two commodities, then the hours allocated for the production of each good is 12 hours.
The hours needed to produce 1 pound of meat by the farmer is 6 hours
The units of meat produced by farmer in 12 hours is
= 12/6
= 2 pounds
The hours needed to produce 1 pound of potato by the farmer is 4 hours
The units of meat produced by farmer in 12 hours is
= 12/4
= 3 pounds
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