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An economy consists of three workers: Edison, Kevin, and Rajiv. Each works 10 hours a day and can produce two services: mowing lawns and washing
An economy consists of three workers: Edison, Kevin, and Rajiv. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Edison can either mow 1 lawn or wash 2 cars; Kevin can either mow 1 lawn or wash 1 car; and Rajiv can either mow 2 lawns or wash 1 car
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Principles of Microeconomics
Authors: N. Gregory Mankiw
8th edition
1305971493, 978-1305971493
