ECON 3HH3 Study Guide - Quiz Guide: Cymbopogon, Hogwarts, Mw 50

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2. (10 points) gryffindor produces 2 goods, magic potions (denoted by mp) and magic wands (denoted by mw) using lemon grass (denoted by g) and troll labor (denoted by l). To produce magic potions, one needs to use 4 pounds of lemon grass per one troll and to produce magic wands, one needs to use 1 pound of lemon grass per one troll so that. Gmp / lmp = 4 and gmw /lmw = 1. Hint: from the box diagram, the amount of factors used in each industry must add up to the total for gryffindor: Gmp + gmw = 100, and lmp + lmw = 50. (c) suppose that the number of trolls falls to 80 due to some trolls migrating to slytherin in search of better life. The amount of total lemon grass is still fixed at 100 pounds. 50 trolls in grythindor, but the amount of lemon grass falls to 80 pounds due to fdi to slytherin.

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