Essay about Macroeconomics
1. Your assignment should have a cover sheet with the following information:
a. your name; b. the course number; c. the section number; and, d. the date,
2. You may either copy and paste the questions and the appropriate graphs into your paper, or you may insert your coversheet, your answers and your references into THIS document, renaming it as required in the instructions.
3. To any graphs, or charts, you may add whatever arrows or other indicators that you feel are necessary to illustrate your analysis.
4. Your answers should follow the APA format by being in double spaced paragraph format, with citations to your sources and, at the bottom of your last …show more content…
Maximum annual output options
Quantity of potatoes Quantity of fish
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? (5 points) Explain. (5 points) No, Atlantis cannot produce 500 pounds of fish and 800 pounds of potatoes. If Atlantis produces 500 pounds of fish the maximum amount of potatoes it can produce is 600 pounds. The 800 pounds of potatoes would lie outside the production possibility frontier.
c. What is the opportunity cost of increasing the annual output of potatoes