Quiz_03__Key_ - EC 340 Spring 2011 Quiz 3 The amounts of...

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Unformatted text preview: EC 340 Spring 2011 Quiz 3 The amounts of land and labor used to produce each unit of fruit are listed here: Apples Oranges Bananas Labor per unit 5 4 8 Land per unit 2 3 4 Labor/Land 2.5 1.3 2 Land/Labor 0.4 0.75 0.5 Which fruit is the most labor intensive? Which is the most land intensive? Write your answers as _Apples_ are the most labor intensive. _Oranges are the most land intensive. To calculate labor intensity, figure out how much labor per unit of land the production of each good uses. The good that uses the most labor per unit of land is the most labor intensive. Likewise, the good that uses the most land per worker is the most land intensive good. ...
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