Suppose in Baku with total 300 minutes labour hours available the economy can only produce mangoes and oranges. If it takes 120 minutes to produce 1 kg oranges and 60 minutes to produce 1 kg mangoes. Answer the following questions and sub-parts as well: a. Find the maximum oranges that can be produced. b. Find the maximum mangoes that can be produced. c. In the given figure, identify inefficient production point, briefly explain why it is inefficient. d. In the given figure, identify unattainable production point, briefly explain why it is unattainable. e. In the given figure, identify efficient and attainable production point, briefly explain why it is efficient and attainable. Mangoes Oranges

Suppose in Baku with total 300 minutes labour hours available the economy can only produce mangoes and oranges. If it takes 120 minutes to produce 1 kg oranges and 60 minutes to produce 1 kg mangoes. Answer the following questions and sub-parts as well: a. Find the maximum oranges that can be produced. b. Find the maximum mangoes that can be produced. c. In the given figure, identify inefficient production point, briefly explain why it is inefficient. d. In the given figure, identify unattainable production point, briefly explain why it is unattainable. e. In the given figure, identify efficient and attainable production point, briefly explain why it is efficient and attainable. Mangoes Oranges

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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