PRINCIPLES OF MACROECONOMICS(LOOSELEAF)
7th Edition
ISBN: 9781260110920
Author: Frank
Publisher: MCG
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Chapter 7, Problem 7.2CC
To determine
Determine the output per week and output per hour for Persons L and Person E.
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At a company meeting, someone suggests that Samsung would be better off if it uses its resources to manufacture 25 million phones and 1.75 million tablets. As one of Samsung's analysts, how do you explain the feasibility of the suggestion to the other team members in your company?
Janica and Jency live in the beach town of Santa Monica. They own a small business in which they make wristbands and pot holders and sell them to people on the beach. As shown in the table on the following page, Janica can make 15 wristbands per hour but only 3 pot holders. Jency is a bit slower and can make only 12 wristbands or 2 pot holders in an hour.
Wristband (output per hr)
Pot Holders (output per hr)
Janica
15
3
Jency
12
2
If Janica devoted half of her time (10 out of 20 hours) to wristbands and half of her time to pot holders, how many of each would she produce in a week? If Jency did the same, how many of each would she produce? How many wristbands and pot holders would be produced in total? Please answer with explanation.
Answer using different graphs
Chapter 7 Solutions
PRINCIPLES OF MACROECONOMICS(LOOSELEAF)
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