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Farmer Brown has four fields that can produce corn or tobacco. Assume that the marginal rate of transformation between corn and tobacco within each field
Farmer Brown has four fields that can produce corn or tobacco. Assume that the marginal rate of transformation between corn and tobacco within each field is constant. The maximum yields for each field are given in the following table. Field A, for instance, can produce 40 units of corn and no tobacco or, as another alternative, no corn and 10 units of tobacco. To be on the production frontier, what condictions must hold true?
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