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. On the diagram below, draw budget lines for trading with Friday and for trading with Kwame. (Put coconuts on the vertical axis.) Instructions: Use the tools provided 'Friday' and 'Kwame' to draw two separate budget lines representing Friday's willingness to trade and Kwame's willingness to trade. The lines should contain only the two endpoints of each line. Coconuts 30 25 20 15 10 5 0 10 20 30 40 50 60 70 Tools (Click to select) Friday Kwame Instructions: Enter your answers rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. What is the slope of the budget line from trading with Friday (coconuts for fish)? What is the slope of the budget line from trading with Kwame (coconuts for fish)? Which budget line features a larger set of attainable combinations of coconuts and fish? If you are going to trade coconuts for fish, would you rather trade with Friday or Kwame? (Click to select) ♥

. On the diagram below, draw budget lines for trading with Friday and for trading with Kwame. (Put coconuts on the vertical axis.) Instructions: Use the tools provided 'Friday' and 'Kwame' to draw two separate budget lines representing Friday's willingness to trade and Kwame's willingness to trade. The lines should contain only the two endpoints of each line. Coconuts 30 25 20 15 10 5 0 10 20 30 40 50 60 70 Tools (Click to select) Friday Kwame Instructions: Enter your answers rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. What is the slope of the budget line from trading with Friday (coconuts for fish)? What is the slope of the budget line from trading with Kwame (coconuts for fish)? Which budget line features a larger set of attainable combinations of coconuts and fish? If you are going to trade coconuts for fish, would you rather trade with Friday or Kwame? (Click to select) ♥

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose that you are on a desert island and possess exactly 20 coconuts. Your neighbor, Friday, is a fisherman, and he is willing to trade 2 fish for every 1 coconut that you are willing to give him. Another neighbor, Kwame, is also a fisherman, and he is willing to trade 3 fish for every 1 coconut. a. On the diagram below, draw budget lines for trading with Friday and for trading with Kwame. (Put coconuts on the vertical axis.) Instructions: Use the tools provided 'Friday' and 'Kwame' to draw two separate budget lines representing Friday's willingness to trade and Kwame's willingness to trade. The lines should contain only the two endpoints of each line. Coconuts 30 25 20 15 10 5 0 10 20 30 40 50 60 70 Tools Friday (Click to select) ✓ Kwame Instructions: Enter your answers rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. b. What is the slope of the budget line from trading with Friday (coconuts for fish)? c. What is the slope of the budget line from trading with Kwame (coconuts for fish)? d. Which budget line features a larger set of attainable combinations of coconuts and fish? (Click to select) e. If you are going to trade coconuts for fish, would you rather trade with Friday or Kwame?
Transcribed Image Text:Suppose that you are on a desert island and possess exactly 20 coconuts. Your neighbor, Friday, is a fisherman, and he is willing to trade 2 fish for every 1 coconut that you are willing to give him. Another neighbor, Kwame, is also a fisherman, and he is willing to trade 3 fish for every 1 coconut. a. On the diagram below, draw budget lines for trading with Friday and for trading with Kwame. (Put coconuts on the vertical axis.) Instructions: Use the tools provided 'Friday' and 'Kwame' to draw two separate budget lines representing Friday's willingness to trade and Kwame's willingness to trade. The lines should contain only the two endpoints of each line. Coconuts 30 25 20 15 10 5 0 10 20 30 40 50 60 70 Tools Friday (Click to select) ✓ Kwame Instructions: Enter your answers rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. b. What is the slope of the budget line from trading with Friday (coconuts for fish)? c. What is the slope of the budget line from trading with Kwame (coconuts for fish)? d. Which budget line features a larger set of attainable combinations of coconuts and fish? (Click to select) e. If you are going to trade coconuts for fish, would you rather trade with Friday or Kwame?
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