Tom and Jerry have two tasks to do all day: make dishes and build fences. If Tom spends all day making dishes, he will have make 16 dishes. If he instead devotes his day to building fences, Tom will build 4 fences. If Jerry spends his day making dishes, he will make 14 dishes; if he spends the day building fences, he will build 7 fences. If Jerry decides to specialize in building fences, what are the limits to his terms of trade?
A. Jerry will accept no less than 7 fences for each dishes.
B. Jerry will accept no less than 7 dishes for each fence.
C. Jerry will accept no less than 2 dishes for each fence.
D. Jerry will accept no less than 2 fences for each dishes.
Answer: C
Economics
You might also like to view...
Which of the following is not a category of state and local government outlays?
A) purchases of goods and services B) grants in aid C) transfer payments D) interest payments
Economics
U.S. GDP includes estimates of the value of items that are produced and consumed at home, such as housework and car maintenance
a. True b. False Indicate whether the statement is true or false
Economics