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    economic concepts

    michelle's and james have the same resources available and they grow potatoes and raise chickens. if michelle devotes all her resources to growing potatoes,she can rasie 200 pounds of potatoes per year. if she devotes all her resources to rasing chickens,she can raise 50 chickens per year (if she apportions some resources to each, then she can produce any linear combination of chickens and potatoes that lies between those extreme points.if james devotes all his resources to growing potatoes, he can raise 80 pounds of potatoes per year. if he devotes all his resources to raising chickens, he can raise 40 chicken per year. (if he apportions some resources to each, then he produce any liner combination of chickens and potatoes that lies between those extrem points

    0  Views: 763 Answers: 1 Posted: 11 years ago
    Tags: economic

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    ....buy low, sell high ?



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