Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1.Sally can produce 6 shoes or 2 sweaters in one day.Kelly can produce 4 shoes or 4 sweaters in one day.What would Sally and Kelly

1.Sally can produce 6 shoes or 2 sweaters in one day.Kelly can produce 4 shoes or 4 sweaters in one day.What would Sally and Kelly consume if they each devoted half a day to production of each good and did not trade?

A.

Sally would consume 3 shoes and 1 sweater, while Kelly would consume 2 shoes and 2 sweaters.

B.

Sally would consume 6 shoes and 2 sweaters, while Kelly would consume 4 shoes and 4 sweaters.

C.

Sally would consume 0 shoes and 2 sweaters, while Kelly would consume 4 shoes and 0 sweaters.

D.

Sally would consume 6 shoes and 0 sweaters, while Kelly would consume 0 shoes and 4 sweaters.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics and Business Strategy

Authors: Michael R. baye

7th Edition

978-0073375960, 71267441, 73375969, 978-0071267441

More Books

Students also viewed these Economics questions