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You are now asked to model the relationship between free time and production for a rice farmer named Diya who is being coerced by a landowner named Avery. Avery does not farm and can force Diya to work for them. To survive, Diya must do what Avery says. If Diya was able to work 24 hours a day, they could produce 5 tonnes of rice each day. You are told that the allocation that maximises Avery's economic rent occurs when Diya works for 10 hours a day, producing a total of 4 tonnes of rice each day. At this allocation, Diya gets 2 tonnes of rice each day to survive. Question 11 Using a model of decision-making under scarcity, with free time on the horizontal axis and rice production on the vertical axis, show the allocation under coercion described above. On this diagram be sure to label the feasible frontier and biological survival constraint, along with the intercepts of each curve. [4 marks] You are now asked to model the relationship between free time and production for a rice farmer named Diya who is being coerced by a landowner named Avery. Avery does not farm and can force Diya to work for them. To survive, Diya must do what Avery says. If Diya was able to work 24 hours a day, they could produce 5 tonnes of rice each day. You are told that the allocation that maximises Avery's economic rent occurs when Diya works for 10 hours a day, producing a total of 4 tonnes of rice each day. At this allocation, Diya gets 2 tonnes of rice each day to survive. Question 11 Using a model of decision-making under scarcity, with free time on the horizontal axis and rice production on the vertical axis, show the allocation under coercion described above. On this diagram be sure to label the feasible frontier and biological survival constraint, along with the intercepts of each curve. [4 marks]
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Related Book For
Forensic Accounting and Fraud Examination
ISBN: 978-0078136665
2nd edition
Authors: William Hopwood, george young, Jay Leiner
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