Katya needs 3 hours to knit a scarf and 7 hours to knit a hat. Andreas needs 9 hours to knit a scarf and 5 hours to knit a hat. It has been proposed that Katya send 1000 scarves to Andreas. How many hats must Katya receive in return so that Katya in not worse off if she accepts the proposal? Enter a number (and only a number, no units) rounded to two decimal places. If your answer is 1.275, enter 1.28. Note: Whether Andreas would ever make this offer is not relevant to specifying the offers Katya would accept.

Katya needs 3 hours to knit a scarf and 7 hours to knit a hat. Andreas needs 9 hours to knit a scarf and 5 hours to knit a hat. It has been proposed that Katya send 1000 scarves to Andreas. How many hats must Katya receive in return so that Katya in not worse off if she accepts the proposal? Enter a number (and only a number, no units) rounded to two decimal places. If your answer is 1.275, enter 1.28. Note: Whether Andreas would ever make this offer is not relevant to specifying the offers Katya would accept.

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter14: Investment, The Capital Market, And The Wealth Of Nations

Section: Chapter Questions

Problem 10CQ

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