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Production Possibility Frontier and Opportunity Cost

Production Possibility Frontier and Opportunity Cost

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Published by ClassOf1.com
"a) Draw a production possibility frontier with potatoes on the horizontal axis and fish on the vertical axis illustrating these options, showing points A-F.
b) Can Atlantis produce 500 pounds of fish and 800 pounds of potatoes? Explain. Where would this point lie relative to the production possibility frontier?
c) What is the opportunity cost of increasing the annual output of potatoes from 600 to 800 pounds?
"
"a) Draw a production possibility frontier with potatoes on the horizontal axis and fish on the vertical axis illustrating these options, showing points A-F.
b) Can Atlantis produce 500 pounds of fish and 800 pounds of potatoes? Explain. Where would this point lie relative to the production possibility frontier?
c) What is the opportunity cost of increasing the annual output of potatoes from 600 to 800 pounds?
"

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Categories:Types, School Work
Published by: ClassOf1.com on May 23, 2013
Copyright:Attribution Non-commercial
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06/25/2014

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