Assignment: Determining Production Possibilities

You are getting ready to open The Shoe Hut, but you need to need to determine whether you have the absolute or comparative advantage in the production of specific items. This will help you determine which product is the best for specialization.

Your production possibilities are as follows:

You have the resources to produce up to 15 running shoe inserts.

You have the resources to produce up to 10 hiking boot inserts.

For every 2 hiking boot inserts produced, you give up the production of 3 running shoe inserts.

Your production possibilities schedule will help you determine:

your opportunity costs.

your best options for production.

the system of inequalities is

step-by-step explanation:

step 1

find the equation of the dashed line

we have the points

(0,0) and (3,1)

the line passes through the origin, so, is a direct variation

find the slope

the equation of the dashed line is

the solution of the inequality a s the shaded area above the dashed line

therefore

the equation of the inequality a is

step 2

find the equation of the solid line

we have the points

(4,0) and (0,4)

find the slope

the equation of the solid line is

the solution of the inequality b s the shaded area below the solid line

therefore

the equation of the inequality b is

step 3

the system of inequalities is

there are no answer choices

step-by-step explanation:

i need a diagram

step-by-step explanation:

no