Business, 31.07.2019 04:30, joserodriguez212004

A. imagine an economy makes only clothes (qc) and food (qf) and has two inputs of production: labor (l) and capital (k). it takes 4 units of capital and 1 unit of labor to make one unit of clothing. it takes 1 unit of capital and 1 unit of labor to make one unit of food. there is no substitutability between the two inputs. which industry is labor intensive, and which is capital intensive? show how you know. b. draw the ppf for this country if it has 4,000 units of capital and 2,000 units of labor. be sure to separately identify the labor constraint, the capital constraint and the country’s actual ppf.

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A. imagine an economy makes only clothes (qc) and food (qf) and has two inputs of production: labor...