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Assume that it takes four hours of labor time to paint a room and three hours to sand a floor. If all 24 hours were spent painting, how many rooms could be painted by one worker? If a decision were made to sand two floors, how many painted rooms would have to be given up? Illustrate with a production possibilities curve.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M972214

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