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 Blank 1 million feet of lumber. b. The maximum amount of fish it could produce in a day is Blank 2 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 Blank 1 million feet of lumber. b. The maximum amount of fish it could produce in a day is Blank 2 million fish.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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 Blank 1 million feet of lumber.
b. The maximum amount of fish it could produce in a day is Blank 2 million fish.
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