Population: Assume for now that each family/tribe has 4 adult, able-bodied people in it. Time Allocation...
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Population: Assume for now that each family/tribe has 4 adult, able-bodied people in it. Time Allocation to Production: Each family on the island agrees to spend 40 hours a week in food production, L. Input Allocation: The families agree they'll split their time 50:50 on both production activities: hunting (H) and gathering (G). Output: At the end of the week we find that Family A produced 20 H and 10 G. • Family B produced 5 H* and 10 G*. 3. Calculate aggregate productivity of Family A. Call it A_A. a. What are the dimensions of A_A? b. Write the linear aggregate production function where Q_A is the family's total output and L_A is their total labor input. c. Graph the linear aggregate production function in terms of Family A's total output (Q_A) and labor (L_A). Population: Assume for now that each family/tribe has 4 adult, able-bodied people in it. Time Allocation to Production: Each family on the island agrees to spend 40 hours a week in food production, L. Input Allocation: The families agree they'll split their time 50:50 on both production activities: hunting (H) and gathering (G). Output: At the end of the week we find that Family A produced 20 H and 10 G. • Family B produced 5 H* and 10 G*. 3. Calculate aggregate productivity of Family A. Call it A_A. a. What are the dimensions of A_A? b. Write the linear aggregate production function where Q_A is the family's total output and L_A is their total labor input. c. Graph the linear aggregate production function in terms of Family A's total output (Q_A) and labor (L_A).
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Related Book For
Introduction to Management Science A Modeling and Cases Studies Approach with Spreadsheets
ISBN: 978-0078024061
5th edition
Authors: Frederick S. Hillier, Mark S. Hillier
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