Suppose we have an economy with two sectors, wood and paper. • In order to produce $1 of wood, we use $0.30 of wood and $0.06 of рaper. • In order to produce $1 of paper, we use $0.008 of wood and $0.14 of раper. If we decide to produce $8000 of wood and $5000 of paper, how much of our production goes to meet internal demand? Internal demand for wood: $ [Select] Internal demand for paper: $ [Select ]

Suppose we have an economy with two sectors, wood and paper. • In order to produce $1 of wood, we use $0.30 of wood and $0.06 of рaper. • In order to produce $1 of paper, we use $0.008 of wood and $0.14 of раper. If we decide to produce $8000 of wood and $5000 of paper, how much of our production goes to meet internal demand? Internal demand for wood: $ [Select] Internal demand for paper: $ [Select ]

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter4: Labor And Financial Markets

Section: Chapter Questions

Problem 31P: Table 4.6 shows the amount of savings and barrowing in a market for loans lo purchase homes,...

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