4. a foresting service conducted a survey to see if tree farms that planted hardwood trees were more profitable over a 30-year period than tree farms that planted softwood trees. the results of this study showed that hardwood trees had a 46% higher profit per acre. are the results statistically significant?

a)yes, because the chance of getting a similar result is small.

b)no, because planting softwood trees have a higher profit per acre.

c)yes, because planting hardwood trees have a higher profit per acre.

d)no, because there is not enough information given to make a conclusion.

1. an economy consists of three workers: larry, moe, and curly. each works 10 hours a day and can produce two services: mowing lawns and washing cars. in an hour, larry can either mow one lawn or wash one car; moe can either mow one lawn or wash two cars; and curly can either mow two lawns or wash one car. a. calculate how much of each service is produced under the following circumstances: a. all three spend all their time mowing lawns. b. all three spend all their time washing cars. c. all three spend half their time on each activity d. larry spends half of his time on each activity, while moe only washes cars and curly only mows lawns b. using your answers to part a, draw a production possibilities frontier and label points a, b, c, and d on your graph. explain why the production possibilities frontier has the shape it does. c. are any of the allocations calculated in part a inefficient? explain.