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Problem - Mountain Mack and Big Lake Bob spend their time carving fishing lures and duck decoys. The table below shows their production possibilities schedules, which describe various combinations of fishing lures and duck decoys they each can carve efficiently in a week.

Production Possibilities Schedules

Mountain Mack

Big Lake Bob

Fishing Lures

Duck Decoys

Fishing Lures

Duck Decoys

40

0

100

0

32

10

80

6

24

20

60

12

16

30

40

18

8

40

20

24

0

50

0

30

a. If Mountain Mack splits his week evenly between carving fishing lures and duck decoys, what is the maximum number of fishing lures and duck decoys he could carve?

8 fishing lures and 10 duck decoys

24 fishing lures and 20 duck decoys

40 fishing lures and 50 duck decoys

20 fishing lures and 25 duck decoys

b. If Big Lake Bob splits his week evenly between carving fishing lures and duck decoys, what is the maximum number of fishing lures and duck decoys he could carve?

60 fishing lures and 12 duck decoys

100 fishing lures and 30 duck decoys

50 fishing lures and 15 duck decoys

20 fishing lures and 6 duck decoys

c. Combined, how many fishing lures and duck decoys could Mountain Mack and Big Lake Bob carve if each one split his week between the two products?

28 fishing lures and 16 duck decoys

140 fishing lures and 80 duck decoys

84 fishing lures and 32 duck decoys

70 fishing lures and 40 duck decoys

Microeconomics, Economics

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