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larisa86 [58]
2 years ago
13

Assume both Paul and Cliff divide their time equally between the production of corn and wheat, and they do not trade. If they ar

e the only producers of wheat and corn, then total production of wheat and corn is
Business
1 answer:
vazorg [7]2 years ago
4 0

The answer is 7 bushels of wheat and 7 bushels of corn.

Referring to the diagram in the attached image.

If both Paul and Cliff dedicate their time entirely to one crop.

Paul can grow 8 bushels of wheat and Cliff can grow 6 bushels of wheat

Or Paul can grow 10 bushels of corn and Cliff can grow 4 bushels of corn.

But If they divide their time equally between the two crops, each can grow half of each crop,

Then Paul will be growing 4 bushels of wheat and 5 bushels of corn.

And Cliff will be growing 3 bushels of wheat and 2 bushels of corn.

Total production = Paul's production + Cliff's production

                           = (4 bushels of wheat+5 bushels of corn) + (3 bushels of wheat+2 bushels of corn)

                          = (4+3) bushels of wheat + (5+2) bushels of corn

                          = 7 bushels of wheat + 7 bushels of corn

Hence, total production is 7 bushels of wheat and 7 bushels of corn.

Learn more about total production:

brainly.com/question/25623677

#SPJ4

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Illusion [34]

Answer:

$310,000

Explanation:

The computation of the projected initial cash flow is shown below:

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hope this helps :)

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