Suppose that Canada produces two goods: lumber 'y' and fish 'x'. It has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish each day. a. The maximum amount of lumber Canada could produce in a day is 180 million feet of lumber. b. The maximum amount of fish it could produce in a day is 360 million fish
Suppose that Canada produces two goods: lumber 'y' and fish 'x'. It has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish each day. a. The maximum amount of lumber Canada could produce in a day is 180 million feet of lumber. b. The maximum amount of fish it could produce in a day is 360 million fish
Chapter2: Economic Tools And Economic Systems
Section: Chapter Questions
Problem 3.5P
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