Combinations of meat and potatoes


Discussion:

Assume that the farmer and the rancher can switch between producing meat and producing potatoes at a constant rate. Labor hrs. needed to make 1 pound of meat: Farmer meat, 8 , potatoes, 2; Rancher meat 3, potatoes 6 Pounds produced in 24 hrs. Farmer meat 3, potatoes 12---Rancher meat 8, potatoes 4 Assume that the farmer and the rancher each has 24 labor hours available.

1. If each person divides his time equally between the production of meat and potatoes, then total production is

a. 3 pounds of meat and 12 pounds of potatoes
b. 5.5 pounds of meat and 8 pounds of potatoes
c. 8 pounds of meat and 4 pounds of potatoes
d. 11 pounds of meat and 16 pounds of potatoes

2. Which of the following combinations of meat and potatoes could the farmer produce in 24 Hours?

a. 1 pound of meat and 8 pounds of potatoes
b. 2 pounds of meat and 5 pounds of potatoes
c. 3 pounds of meat and 12 pounds of potatoes
d. 4 pounds of meat and 8 pounds of potatoes

3. Which of the following combinations of meat and potatoes could the rancher NOT produce in 24 hours?

a. 2 pounds of meat and 3 pounds of potatoes
b. 4 pounds of meat and 2 pounds of potatoes
c. 6 pounds of meat and 1 pound of potatoes
d. 8 pounds of meat and 0.5 pound of potatoes Please show step by step instructions to each.

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Microeconomics: Combinations of meat and potatoes
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