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An economy consists of three workers: Larry, Moe, and Curly. Each works ten hours a day and can produce two services: mowing lawns and washing
An economy consists of three workers: Larry, Moe, and Curly. Each works ten hours a day and can produce two services: mowing lawns and washing cars. In an hour, Larry can either mow one lawn or wash one cars; Moe can either mow one lawn or wash two car; Curley can either mow two lawns or wash one car. Which of the following could correctly describe a production possibilities frontier graph for this economy? Question 5 options: The vertical axis measures price and the horizontal axis measures quantity. The vertical axis measures the quantity of lawns mowed and the horizontal axis measures the quantity of cars washed. The vertical axis measures the price of mowing lawns and the horizontal axis measures the quantity of lawns mowed. The vertical axis measures the price of washing cars and the horizontal axis measures the quantity of cars washed. The vertical axis measures the price of mowing lawns and the horizontal axis measures the price of washing cars
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