John divides his time between painting landscapes and writing his novel. He paints at a constant pace but finds that the writing flows more smoothly and quickly the more hours each day he devotes to writing, so he actually enjoys increasing returns to writing. What is the shape of his daily production possibilities frontier?
John divides his time between painting landscapes and writing his novel. He paints at a constant pace but finds that the writing flows more smoothly and quickly the more hours each day he devotes to writing, so he actually enjoys increasing returns to writing. What is the shape of his daily production possibilities frontier?
Chapter1: What Is Economics
Section: Chapter Questions
Problem 2DQ
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John divides his time between painting landscapes and writing his novel. He paints at a constant pace but finds that the writing flows more smoothly and quickly the more hours each day he devotes to writing, so he actually enjoys increasing returns to writing. What is the shape of his daily production possibilities frontier?
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