Josel owns two fields: Blue field and Red field. He produces corn and wheat. Blue field has 100 acres and Red field has 120 acres. In Blue field, it takes 5 acres to produce 1 bushel of corn and 1 acre to produce 1 bushel of wheat. In Red field, it takes 10 acres to produce 1 bushel of corn and 3 acres to produce 1 bushel of wheat. Suppose that the government imposes a quantity restriction of 50 bushels of wheat on Blue field and a quantity restriction of 9 bushels of corn on Red field.
Josel owns two fields: Blue field and Red field. He produces corn and wheat. Blue field has 100 acres and Red field has 120 acres. In Blue field, it takes 5 acres to produce 1 bushel of corn and 1 acre to produce 1 bushel of wheat. In Red field, it takes 10 acres to produce 1 bushel of corn and 3 acres to produce 1 bushel of wheat. Suppose that the government imposes a quantity restriction of 50 bushels of wheat on Blue field and a quantity restriction of 9 bushels of corn on Red field.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Hi can uyou please answer this question
Transcribed Image Text:Josel owns two fields: Blue field and Red field. He produces corn and wheat. Blue field has 100
acres and Red field has 120 acres. In Blue field, it takes 5 acres to produce 1 bushel of corn and
1 acre to produce 1 bushel of wheat. In Red field, it takes 10 acres to produce 1 bushel of corn
and 3 acres to produce 1 bushel of wheat.
Suppose that the government imposes a quantity restriction of 50 bushels of wheat on Blue
field and a quantity restriction of 9 bushels of corn on Red field.
Transcribed Image Text:Under quantity restrictions, what is the minimum amount of wheat that Josel can produce
efficiently?
O A. Qw = 0.
O B. Qw = 10.
O C. Qw = 60.
O D. Qw = 90.
O E. None of the above.
Save Answer
Under quantity restrictions, what is the minimum amount of corn that Josel can produce
efficiently?
O A. Qc = 19.
O B. Qc = 10.
O C. Qc = 29.
O D. Qc = 160.
O E. None of the above.
Save Answer
Under quantity restrictions, what prices of corn and wheat lead Josel to produce only corn and
no wheat?
O A. Pc = $10 and Pw = $2.
O B. Pc =
$15 and Pw = $2.
O C. Pc y =
$12 and Pw = $3.
O D. Po = $14 and Pw = $7.
O E. None of the above.
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