Hi can uyou please answer this question Josel owns two fields: Blue field and Red field. He produces corn and wheat. Blue field has 100acres and Red field has 120 acres. In Blue field, it takes 5 acres to produce 1 bushel of corn and1 acre to produce 1 bushel of wheat. In Red field, it takes 10 acres to produce 1 bushel of cornand 3 acres to produce 1 bushel of wheat.Suppose that the government imposes a quantity restriction of 50 bushels of wheat on Bluefield and a quantity restriction of 9 bushels of corn on Red field. Under quantity restrictions, what is the minimum amount of wheat that Josel can produceefficiently?O A. Qw = 0.O B. Qw = 10.O C. Qw = 60.O D. Qw = 90.O E. None of the above.Save AnswerUnder quantity restrictions, what is the minimum amount of corn that Josel can produceefficiently?O A. Qc = 19.O B. Qc = 10.O C. Qc = 29.O D. Qc = 160.O E. None of the above.Save AnswerUnder quantity restrictions, what prices of corn and wheat lead Josel to produce only corn andno 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.

Given that; Blue Field Red Field Corn 5 Acres=1 bushel of corn 10Acres=1 bushel of corn…

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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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