Question: If you start to go wrong at any point on this homework assignment, much of the remainder of your work could also go wrong. To

wrong. To mitigate this, I have provided some answers for you. They

are highlighted in yellow. When you get to a yellow answer, make

If you start to go wrong at any point on this homework assignment, much of the remainder of your work could also go wrong. To mitigate this, I have provided some answers for you. They are highlighted in yellow. When you get to a yellow answer, make sure you agree with it before proceeding. Leslie and Dan can produce chairs and tables according to the following labor production schedule: Table 1 Leslie and Dan Production Schedule Leslie Dan Chairs 1 chair every 30 minutes 1 chair every 10 minutes Tables 1 table every 20 minutes 1 table every 1 hour advantage in producing sabi (3 points) Fill out the following table to display the numbers of chairs and tables each could produce in an 8-hour workday if they exclusively made just the one item. Table 2 Leslie and Dan One Item Production Leslie Dan Chairs 16 tables at 48 Tables 24 1At what price ratio (Pc/Pt) will Dan be indifferent between producing chairs and tables? Pc/Pt = 1/6 (1 point) If Pc/Pt = 1/6 (so chairs sell at 1/6 the price of tables), how many chairs and tables will Dan produce? Chairs: 0 S x S 48 Tables: (2 points) If Pc/Pt = 1/6 (so chairs sell at 1/6 the price of tables), how many chairs and tables will Leslie produce? Chairs: Tables: (1 point) Consequently, if Pc/Pt = 1/6 (so chairs sell at 1/6 the price of tables), how many chairs and tables will society produce? Chairs : 0 Ex - 48 Tables: (1 point) At what price ratio (Pc/Pt) will Leslie be indifferent between producing chairs and tables? (2 points) If Pc/Pt = 3/2 (so chairs sell at 3/2 the price of tables), how many chairs and tables will Dan produce? Chairs: Tables: 9(1 point) If Pc/Pt = 3/2 (so chairs sell at 3/2 the price of tables), how many chairs and tables will Leslie produce? Chairs: Tables: 0 Sys 24 (2 points) if (1 point) Consequently, if Pc/Pt = 3/2 (so chairs sell at 3/2 the price of tables), how many chairs and tables will society produce? Chairs: pany Tables: 0 Sys 24 sockty Tables (2 points) If Pc/Pt = 2/3 (so chairs sell at 2/3 the price of tables), how many chairs and tables will Dan produce? NOTE THAT 1/6 3/2, how many chairs and tables will Dan produce? Chairs: Tables: (2 points) If Pc/Pt > 3/2, how many chairs and tables will Leslie produce? Chairs: Tables: (1 point) Consequently, if Pc/Pt > 3/2, how many chairs and tables will society produce? Chairs: Tables: O 11

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