Wednesday

August 27, 2014

August 27, 2014

Posted by **Leigh** on Tuesday, March 29, 2011 at 9:09am.

Maximum annual output options

Quantity of potatoes Quantity of fish

(pounds) (pounds)

A 1,000 0

B 800 300

C 600 500

D 400 600

E 200 650

F 0 675

a. Examine the Maximum annual output options table above and the resulting Production Possibility Frontier Graph below and answer parts b - f.

Production Possibility Frontier Graph

b. Can Atlantis produce 500 pounds of fish and 800 pounds of potatoes? Explain.

c. What is the opportunity cost of increasing the annual output of potatoes from 600 to 800 pounds?

d. What is the opportunity cost of increasing the annual output of potatoes from 200 to 400 pounds?

e. Can you explain why the answers to parts c and d are not the same?

f. What does this imply about the slope of the production possibility frontier?

**Related Questions**

macroeconomics - Atlantis is a small, isolated island in the South Atlantic. The...

Math - If 5 fishermen catch 5 fish in 5 minutes, how many minutes will it take ...

Macroeconomics - Can someone point me in the right direction on how to solve ...

macroeconomics - Can someone point me in the right direction on how to solve ...

math - Two mothers and two daughters were fishing.Thy managed to catch one big ...

geology - Use the following table to identify five historical events influenced ...

Microeconomoics - 1. The Omnibus Corporation finds that its daily costs are $50 ...

econ - Suppose that two people, Michelle and James each live alone in an ...

Grade 4 Math - Mele is feeding some of the many exotic fish that live in the ...

science (biology) - Suppose that you are starting a long-term study of a ...