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January 26, 2015

Homework Help: macroeconomics

Posted by Regina on Tuesday, August 3, 2010 at 12:18pm.

Atlantis is a small, isolated island in the South Atlantic. The inhabitants grow potatoes and catch fresh fish. The accompanying table shows the maimum annual output combinations of potatoes and fish that can be produced. Obviously, given their limited resources and available technology, as they use more of their resources for potato production, there are fewer resources available for catching fish. (a) Examine the Maximum annual output options table above and the resulting production Possiblility Frontier Graph below and answer parts b-f. (b) Can Atlantis produce 500 pounds of fish and 800 pounds of potatoes? Explain.

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