Chapter3: Scarcity, Trade-offs, And Production Possibilities
Section: Chapter Questions
Problem 6P
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Question
Please answer part d: thanks
![Assume there is a two person economy, where they have
only fish and mangos. Susan can pick 18 mangos per day or
catch 6 fish per day. Tom can pick 6 mangos per day or
catch 10 fish. Each work 5 hours per day.
a. Draw their individual production possibility curves
(assuming constant marginal returns).
b. Draw their group production possibility curve. (Hint:
find 3 points- 2 axis points and the specialization
point).
c. What is one combination that would be considered an
inefficient level of production in this economy.
d. What is one combination that would be considered an
unattainable level of production in this economy.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fed49b0ba-5622-45d6-b3bf-bc086e4d23cf%2Fd10a39fe-6206-4c9e-8832-92d836d5d81a%2Fccw71of_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Assume there is a two person economy, where they have
only fish and mangos. Susan can pick 18 mangos per day or
catch 6 fish per day. Tom can pick 6 mangos per day or
catch 10 fish. Each work 5 hours per day.
a. Draw their individual production possibility curves
(assuming constant marginal returns).
b. Draw their group production possibility curve. (Hint:
find 3 points- 2 axis points and the specialization
point).
c. What is one combination that would be considered an
inefficient level of production in this economy.
d. What is one combination that would be considered an
unattainable level of production in this economy.
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