*1 Robinson Crusoe lives on a desert island on the equator. He has 12 hours of daylight...

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*1 Robinson Crusoe lives on a desert island on the equator. He has 12 hours of daylight every day to allocate between leisure and work. The table shows seven alternative combinations of leisure and real GDP in the economy of Crusoe: Leisure Real GDP Possibility (hours per day) (euros per day) A 12 0 B 10 10 C 8 18 D 6 24 E 4 28 F 2 30 G 0 30 a Make a graph of Crusoe’s production possibilities frontier for leisure and real GDP. b Make a table and a graph of Crusoe’s production function. c Find Crusoe’s marginal product of labour at different quantities of labour.

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Economics

ISBN: 9781509540235

6th Edition

Authors: Michael Parkin, Melanie Powell, Kent Matthews

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