20. Consider the production possibilities frontier depicted below, which shows the different combinations of guns and roses
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20. Consider the production possibilities frontier depicted below, which shows the different combinations of guns and roses an economy can produce when it uses all its inputs efficiently.
a. If the MRT at point A is 2.0, and the marginal product of labor in the gun industry is 12, what must the marginal product of labor be in the rose industry?
b. If, at point A, the marginal product of capital in the gun industry is 6, what must the marginal product of capital in the rose industry be?
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Related Book For 
Microeconomics
ISBN: 9780716759751
1st Edition
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
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