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Econ 212-Spring 2007 Exam 1

Econ 212-Spring 2007 Exam 1 - Spring 2007 ECONOMICS 212...

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2 The questions on this page are all related, and based in part on this information : Two persons are located on an otherwise deserted island, with only two ways to spend their time: fishing or gathering bananas. If Christina spends all of her time gathering bananas, she can gather 10 a day; if she spends all her time fishing she can catch 20 a day; and if she spends some of her time of in each activity, she can produce any linear combination of these extremes (e.g., 4 bananas and 12 fish, or 8 bananas and 4 fish). If Ann spends all her time gathering bananas she can gather 20 a day; if all of her time is spent fishing she can catch 10 a day; and if she engages in a mixture of activities she can
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Econ 212-Spring 2007 Exam 1 - Spring 2007 ECONOMICS 212...

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