Suppose the production possibility frontier for cheese-burgers (C) and milkshakes (M) is given by C + 2M = 600 a. Show working and graph this frontier. b. Assuming that people prefer to eat two cheeseburgers with every milkshake, how much of each product will be produced? show working and indicate this point on the graph. c. Given that this fast-food economy is operating efficiently, what price ratio (PC/PM) must prevail? show working

Suppose the production possibility frontier for cheese-burgers (C) and milkshakes (M) is given by C + 2M = 600 a. Show working and graph this frontier. b. Assuming that people prefer to eat two cheeseburgers with every milkshake, how much of each product will be produced? show working and indicate this point on the graph. c. Given that this fast-food economy is operating efficiently, what price ratio (PC/PM) must prevail? show working

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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please do the questions and the chocies for the last question is (high, low) thankyou!!
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