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Take this paragraph: If Angela worked a little more she'd only need a little more grain to have the energy to work longer, because the

  1. Take this paragraph: "If Angela worked a little more she'd only need a little more grain to have the energy to work longer, because the biological survival constraint is relatively flat at 8 hours of work. But the feasible frontier is steep, so she would produce a lot more if you imposed longer hours."
    1. Explain what is meant by "biological survival constraint is relatively flat" in marginal terms.
    2. Explain what is meant by "feasible frontier is steep" in marginal terms.
    3. Take the above two and explain "worked a littlemore, she'd only need a little more grain to have the energy to work longer."
    4. Insert the correct sign (<, >, =) below that accurately describes the paragraph above:
      1. MRS __ MRT
  2. When MRS > MRT what does that mean for the marginal unit for both marginal rate of transformation and marginal rate of substitution?
  3. Explain why it is optimal when MRT equals MRS. Your answer must include the use of "marginal". Note, you may have already answered part of this in a previous question
  4. What do we call it when MRT=MRS

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