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Suppose that a person produces their own consumption good, G, using a production function G=5L, where L is the amount of labor time used. The
Suppose that a person produces their own consumption good, G, using a production function G=5L, where L is the amount of labor time used. The person has 24 units of labor time available to them. Free time, denoted F, is the amount of time not used for labor.
- Draw the set of feasible combinations of G and F, with F on the horizontal axis.
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