Leisure Island has 50 hours of labor a day that it can use to produce entertainment and
Question:
Leisure Island has 50 hours of labor a day that it can use to produce entertainment and good food. The table shows the maximum quantity of each good that it can produce with different quantities of labor.
Questions
1. Can Leisure Island produce 4 shows and 14 meals a week?
2. If Leisure Island produces 4 shows and 9 meals a week, is production efficient?
3. If Leisure Island produces 8 shows and 5 meals a week, does it face a tradeoff ?
4. Suppose that Leisure Island produces 4 shows and 12 meals a week. Calculate the opportunity cost of producing 2 extra shows a week.
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Based on the provided information which shows the maximum quantity of entertainment shows per week and good food meals per week that Leisure Island ca...View the full answer
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