A)You are to choose TWO goods/services or resources that you produce. List these below:

Good 1: ______________________Good 2: _________________________

B)Next identify the unit of measure you will use to count your output (you cannot use time or money since you do not produce either).

Unit of measure Good 1: _____________Unit of Measure Good 2:_________________

C)Choose the fixed time period in which you measure your output (must be in HOURS):

Time period for producing Good 1 and 2: ______________________HOURS

D)Identify the maximum output of Good1 one and then good 2 if you were to devote all the time period and all your resources to each respective good.

Max production of Good 1 _______________Max production of Good 2:____________

E)Finally find the relative price of good 1 and good 2 (Set the max production equal to each other and then solve for 1 unit of good 1; then solve for 1 unit of good 2)

1 unit of good 1 = _________________ of good 2

1 unit of good 2 = _________________ of good 1