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Suppose that initially Logan and Hayden are self-sufficient singles, i.e., each consumes only what s/he produces. Both Logan and Hayden decide that each wishes to
Suppose that initially Logan and Hayden are self-sufficient singles, i.e., each consumes only what s/he produces. Both Logan and Hayden decide that each wishes to consume 600H. So each devotes sufficient time to H production that s/he produces 600H, and devotes the remainder of the total time available to market production. Under these conditions, 7. How many hours will Logan devote to producing M and H? 8. What will be Logan's production (and consumption) or M and H? Show this point on Logan's PPC. 9. How many hours will Hayden devote to producing M and H? 10. What will be Hayden's production (and consumption) or M and H? Show this point on Hayden's PPC
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