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Assume efficient production. Auslaug takes 8 hours to weave one blanket or 10 hours to produce one bear skin. Siggy takes 7.4 hours to weave
Assume efficient production. Auslaug takes 8 hours to weave one blanket or 10 hours to produce one bear skin. Siggy takes 7.4 hours to weave one blanket or 5 hours to produce one bear skin. Consider the exchange rate between bear skins and blankets when Auslaug and Siggy trade, specifically, the number of bearskins traded for 1 blanket. What is the maximum number of bear skins Siggy is willing to pay for 1 blanket?
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