Suppose in Baku with total 300 minutes labour hours available the economy can only produce mangoes and oranges. If it takes 120 minutes to produce 1 kg oranges and 60 minutes to produce 1 kg mangoes. Answer the following questions and sub-parts as well: a. Find the maximum oranges that can be produced. b. Find the maximum mangoes that can be produced. c. In the given figure, identify inefficient production point, briefly explain why it is inefficient. d. In the given figure, identify unattainable production point, briefly explain why it is unattainable. e. In the given figure, identify efficient and attainable production point, briefly explain why it is efficient and attainable. Mangoes Oranges

Suppose in Baku with total 300 minutes labour hours available the economy can only produce mangoes and oranges. If it takes 120 minutes to produce 1 kg oranges and 60 minutes to produce 1 kg mangoes. Answer the following questions and sub-parts as well: a. Find the maximum oranges that can be produced. b. Find the maximum mangoes that can be produced. c. In the given figure, identify inefficient production point, briefly explain why it is inefficient. d. In the given figure, identify unattainable production point, briefly explain why it is unattainable. e. In the given figure, identify efficient and attainable production point, briefly explain why it is efficient and attainable. Mangoes Oranges

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.3P

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