AB 204 Unit 4 Assignment For more course tutorials visit www . tutorialrank . com
accompanying table shows the maximum 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 .
Is it feasible for Atlantis to produce 500 pounds of fish and 800 pounds of potatoes ? Explain .
Calculate the opportunity cost of increasing the annual output of potatoes from 800 to 1000 pounds .
Calculate the opportunity cost of increasing the annual output of potatoes from 400 to 600 pounds .
What is the difference between the answers to parts b and c ?
What does the change in opportunity costs indicate about the slope of the production possibility frontier ?
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AB 204 Unit 4 Assignment For more course tutorials visit www . tutorialrank . com