Robinson Crusoes Technology Technology: Labor produces output (coconuts)according to a concave production function
Robinson Crusoe’s Technology Technology: Labor produces output (coconuts) according to a concave production function
Robinson Crusoes Technology oconu Its Production function 0 24 Labor(hours)
Robinson Crusoe’s Technology Production function Labor (hours) Coconuts 0 24
Robinson Crusoes Technology oconu Its Production function Feasible production plans 0 24 Labor(hours)
Robinson Crusoe’s Technology Labor (hours) Coconuts Production function 0 24 Feasible production plans
Robinson crusoe's preferences RC's preferences coconut is a good -leisure is a good
Robinson Crusoe’s Preferences RC’s preferences: – coconut is a good – leisure is a good
Robinson crusoe's preferences oconu Its More preferred 0 24 Leisure (hours)
Robinson Crusoe’s Preferences Leisure (hours) Coconuts More preferred 0 24