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Suppose that Canada produces two goods: lumber and fish. It has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish each day.
a. What is the maximum amount of lumber Canada could produce in a day?
b. What is the maximum amount of fish it could produce in a day?
c. Write an equation describing the production possibilities frontier, in the form described on pp. 28–29.
d. Use your equation to determine how many fish can be caught if 60 million feet of lumber are cut.
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