Alec and Ellie are the only detectives in the town of Broadchurch. Assume efficient production. Each has 10 hours in a day to allocate between conducting interviews and completing paperwork. They work independently and have to decide whether they will trade paperwork files for interviews. Alec takes 33 hours to complete one interview or 38 hours to complete one file of paperwork. Ellie takes 6 hours to complete one interview or 20 hours to complete one file of paperwork. Consider the price of 1 interview in terms of paperwork files. What is the LOWEST price at which a trade between Alec and Ellie takes place? Enter a number only.

Alec and Ellie are the only detectives in the town of Broadchurch. Assume efficient production. Each has 10 hours in a day to allocate between conducting interviews and completing paperwork. They work independently and have to decide whether they will trade paperwork files for interviews. Alec takes 33 hours to complete one interview or 38 hours to complete one file of paperwork. Ellie takes 6 hours to complete one interview or 20 hours to complete one file of paperwork. Consider the price of 1 interview in terms of paperwork files. What is the LOWEST price at which a trade between Alec and Ellie takes place? Enter a number only.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter19: Externalities And Public Goods

Section: Chapter Questions

Problem 19.3P

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