Homework Answers
Let the quantity of food produced be "F" ans that of cloth produced be "C"
Constraint equation for land will be:
5F + 1.5C <=900
(This equation depicts that the amount of land used cannot exceed 900 hectares)
Constraint equation for labor will be:
3F + 6C <= 2,400
(This equation depicts that amount of labor used cannot exceed 2,400 laborers)
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units. Given the supply of capital and land, the marginal products
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Suppose that the price of manufactures is 2 and the price of
food is 1.
A.Determine graphically and algebraically the wage rate and the
allocation of labor between the two sectors
B.Calculate,...
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