Consider a society consisting only of Helen, who allocates her time between sewing dresses and baking bread.

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Consider a society consisting only of Helen, who allocates her time between sewing dresses and baking bread. Each hour she devotes to sewing dresses yields 4 dresses and each hour she devotes to baking bread yields 8 loaves of bread. (LO2)

a. If Helen works a total of 8 hours per day, graph her production possibilities curve.

b. Using your graph, which of the points listed below are attainable and/or efficient?

28 dresses per day, 16 loaves per day.

16 dresses per day, 32 loaves per day.

18 dresses per day, 24 loaves per day.

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Related Book For  book-img-for-question

Principles Of Macroeconomics

ISBN: 9781259414367

6th Edition

Authors: Robert Frank, Ben Bernanke, Kate Antonovics

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