Construct a production possibility frontier to tom earning's between two careers 1000 per day as a lecturer and 800 per day as a carpentry then worked 1 week per month then 2week , 3 weeks & 4 weeks , assuming only four weeks in a month
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Answer:
Check the attachement for PPF graph
Explanation:
As Lecturer (Weeks) earnings -
(1000/day = 5000/week)
As Carpenter (Weeks) earnings -
(800/day = 4000/week)
4 weeks as lecturer -
4 20000 0 0
3 weeks as lecturer & 1 week as carpenter -
3 15000 1 4000
2 weeks as lecturer & 2 week as carpenter -
2 10000 2 8000
1 weeks as lecturer & 3 week as carpenter -
1 5000 3 12000
4 weeks as Carpenter -
0 0 4 16000
These values are used to p[lot the graph.
Attachments:
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