Robinson is trapped on an island and can produce Fish (F) or Coconuts (C) with his time. Let LF and LC denote labor hours dedicated to fishing or gathering coconuts, respectively. Robinson's technological relationships for producing fish is given by: F=12LF Robinson's technological relationships for producing coconuts is given by: C=14LC Which of the following is/are correct? check all that apply - Robinson becomes less productive at the margin for each additional hour spent fishing - every hour spent harvesting coconuts is equally productive at the margin in terms of labor usage - Robinson becomes less productive at the margin for each additional hour spent harvesting coconuts - every hour of labor spent fishing is equally productive at the margin in terms of labor usage
Robinson is trapped on an island and can produce Fish (F) or Coconuts (C) with his time. Let LF and LC denote labor hours dedicated to fishing or gathering coconuts, respectively. Robinson's technological relationships for producing fish is given by: F=12LF Robinson's technological relationships for producing coconuts is given by: C=14LC Which of the following is/are correct? check all that apply - Robinson becomes less productive at the margin for each additional hour spent fishing - every hour spent harvesting coconuts is equally productive at the margin in terms of labor usage - Robinson becomes less productive at the margin for each additional hour spent harvesting coconuts - every hour of labor spent fishing is equally productive at the margin in terms of labor usage
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Robinson is trapped on an island and can produce Fish (F) or Coconuts (C) with his time. Let LF and LC denote labor hours dedicated to fishing or gathering coconuts, respectively.
Robinson's technological relationships for producing fish is given by:
F=12LF
Robinson's technological relationships for producing coconuts is given by:
C=14LC
Which of the following is/are correct? check all that apply
- Robinson becomes less productive at the margin for each additional hour spent fishing
- every hour spent harvesting coconuts is equally productive at the margin in terms of labor usage
- Robinson becomes less productive at the margin for each additional hour spent harvesting coconuts
- every hour of labor spent fishing is equally productive at the margin in terms of labor usage
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