Item Minutes to produce 1 Quantity per hour Smoothies 10 6 Salads 2 30 J oes customers,

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Item Minutes to produce 1 Quantity per hour Smoothies 10 6 Salads 2 30 J• oe’s customers, like Liz’s, buy smoothies and salads in equal quantities.

Joe spends 50 minutes of each hour making smoothies and 10 minutes of each hour making salads. With this division of his time, Joe produces 5 smoothies and 5 salads an hour.

Figure 3.7 Production Possibilities Frontiers Liz’s and Joe’s PPFs The PPFs in Figure 3.7 illustrate the situation we’ve just described. In part

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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