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Mountain Mack spends his time carving fishing lures and duck decoys. If Mountain Mack spends all of his time carving fishing lures he can carve 40 lures in a week. If he spends all of his time carving duck decoys he can carve 50 decoys in a week. For every 10 duck decoys Mountain Mack carves he must give up 8 fishing lures.
Fill in the values in the table below to complete Mountain Mack's production possibilities schedule.
Mountain Mack's production possibilities schedule.
Fishing Lures Duck Decoys
40 0
0 50

Sagot :

The completed table is:

Fishing Lures      Duck decoys

40                              0

32                               40

24                               30

16                                20

8                                  10

0                                  50

What is the production possibilities schedule?

The production possibilities schedule is a schedule that shows the two combination of goods or services that can be produced when a person's resources are fully utilized.  

In order to determine the production possibilities schedule, the opportunity cost of producing 1 fishing lure have to be determined. The opportunity cost = 10 / 8 = 1.25. Thus, the opportunity costs between fishing lures and duck carves have to be 1.25

Please find attached the table  that contains the answer. For more information about the production possibility, please check: https://brainly.com/question/25774783

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