Microeconomics

posted by .

Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she can raise 200 pounds of potatoes per year. If she devotes all her resources to raising chickens, she can raise 50 chickens per year. (If she apportions some resources to each, then she can produce any linear combination of chickens and potatoes that lies between those extreme points. If James devotes all his resources to growing potatoes, he can raise 80 pounds of potatoes per year. If he devotes all his resources to raising chickens, he can raise 40 chickens per year. (If he apportions some resources to each, then he can produce any linear combination of chickens and potatoes that lies between those extreme points.)

  • Microeconomics -

    What is your question?

  • Microeconomics -

    no tutors at school need help

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. microeconomics

    Suppose that two people, Mary and John each live alone in an isolated region. They each have the same resources available, and they grow corn and raise pigs. If Mary devotes all her resources to growing corn, she can raise 200 pounds …
  2. economics

    Suppose that two people, Mary and John each live alone in an isolated region. They each have the same resources available, and they grow corn and raise pigs. If Mary devotes all her resources to grow ...
  3. MICROECONOMICS

    Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she …
  4. microeconomics

    Michelle has 200lbs of potatoes and 50 cchickens. James has 80lbs of potatoes and 40 chickens. what is Michelles opportunity cost of producing potatoes and opportunity cost of producing chickens?
  5. Microecinomics

    If Michelle devotes all her resources to growing potatoes, she can raise 200 pounds of potatoes per year. If she devotes all her resources to raising chickens, she can raise 50 chickens per year. (If she apportions some resources to …
  6. Microeconomics

    Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she …
  7. econ

    Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she …
  8. Microeconomics

    Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she …
  9. microeconomics

    potatoes chickens MICHELLE 200 PER YEAR 50 PER YEAR jAMES 80 PER YEAR 40 PER YEAR What is michelles opportunity cost of p roducing potatoes WHAT is MICHELLES OPPORTUNITY COST of producing chickens repeat same opportunitity cost for …
  10. econimics

    Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she …

More Similar Questions