Suppose that Canada produces two goods: lumber and fish. It has 18 million workers, each of whom

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Suppose that Canada produces two goods: lumber and fish. It has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish each day.

a. What is the maximum amount of lumber Canada could produce in a day?

b. What is the maximum amount of fish it could produce in a day?

c. Draw Canada’s production possibilities frontier.

d. Use your graph to determine how many fish can be caught if 60 million feet of lumber are cut.

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Microeconomics

ISBN: 978-1259813337

2nd edition

Authors: Dean S. Karlan, Jonathan J. Morduch

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Question Posted: Oct 03, 2018 11:40 AM

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Suppose that Canada produces two goods: lumber and fish. It has 18 million workers, each of whom

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a The maximum amount of lumber Canada could produce in a day is 10 f...View the full answer

Microeconomics

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