what sliders do i use? Now it is time to find a way off the island! If you can buildenough inventory to survive two days without working,you can search the island for a way off. Trade with Fridayuntil you have 64 logs of firewood and 4000 calories offish in inventory at the start of a day.Collect Wood: 12 hourCollect Fish: 0 hourDaytime Schedule0 hourCollect WoodCollect FishIdle12 hourWood: 0 logsDay 1.Fish : 0 cals Fish (cals)50004000300020001000000TradeTerms of Trade10 20 30 40 50 60 70 80 90 100 110Firewood (logs)What are the rules of trading?1 Wood (logs) for: 150 fish (cals)How much do we trade?Your PPFGive wood (logs): 50Receive fish (cals): 750◆ Your PPF20050Fish (cals)800007000600050004000300020001000001020 30ConsumptionCollect Wood: 91 logs0Collect Fish: 750 calsFriday PPF40 50 60 70 80Firewood (logs)● Friday's PPFStart90 100 110966000

There two potential trading partners : You & Friday You specializes in production of…

Now it is time to find a way off the island! If you can build enough inventory to survive two days without working, you can search the island for a way off. Trade with Friday until you have 64 logs of firewood and 4000 calories of fish in inventory at the start of a day.

Now it is time to find a way off the island! If you can build enough inventory to survive two days without working, you can search the island for a way off. Trade with Friday until you have 64 logs of firewood and 4000 calories of fish in inventory at the start of a day.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

what sliders do i use?

Now it is time to find a way off the island! If you can build
enough inventory to survive two days without working,
you can search the island for a way off. Trade with Friday
until you have 64 logs of firewood and 4000 calories of
fish in inventory at the start of a day.
Collect Wood: 12 hour
Collect Fish: 0 hour
Daytime Schedule
0 hour
Collect Wood
Collect Fish
Idle
12 hour
Wood: 0 logs
Day 1.
Fish : 0 cals

Fish (cals)
5000
4000
3000
2000
1000
0
0
0
Trade
Terms of Trade
10 20 30 40 50 60 70 80 90 100 110
Firewood (logs)
What are the rules of trading?
1 Wood (logs) for: 150 fish (cals)
How much do we trade?
Your PPF
Give wood (logs): 5
0
Receive fish (cals): 750
◆ Your PPF
200
50
Fish (cals)
8000
0
7000
6000
5000
4000
3000
2000
1000
0
0
10
20 30
Consumption
Collect Wood: 91 logs
0
Collect Fish: 750 cals
Friday PPF
40 50 60 70 80
Firewood (logs)
● Friday's PPF
Start
90 100 110
96
6000

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