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Unit 2
[Microeconomics]
Unit 2 Assignment: St Atanagio
Name:
Course Number:
Section Number:
Unit Number:
Date:
-2
-
St Atanagio is a remote island in the Atlantic. The inhabitants grow corn and breed poultry. The
accompanying table shows the maximum annual output combinations of corn and poultry that can be
produced. Obviously, given their limited resources and available technology, as they use more of their
resources for corn production, there are fewer resources available for breeding poultry.
Maximum annual output
options
1
2
3
4
5
6
7
Quantity of Corn
(pounds)
1200
1000
800
600
400
200
0
Quantity of Poultry
(pounds)
0
300
500
600
700
775
850
1. Draw a production possibility frontier with corn on the horizontal axis and poultry on the vertical
axis illustrating these options, showing points 1–7.
2. Can St. Atanagio produce 650 pounds of poultry and 650 pounds of corn? Explain. Where would
this point lie relative to the production possibility frontier?
3. What is the opportunity cost of increasing the annual output of corn from 800 to 1000 pounds?
Unit 2
[Microeconomics]
4. What is the opportunity cost of increasing the annual output of corn from 200 to 400 pounds?
5. Can you explain why the answers to parts 3. and 4. above are not the same? What does this
imply about the slope of the production possibility frontier?
--------------------References:
Unit 2
[Microeconomics]
Grading Rubric
Microeconomics: Unit 2 Assignment: PPF and Opportunity Costs
Content
Points
Possib
le
Draw production possibility frontier (PPF)
3
Analyze feasible/infeasible production
2
Compute opportunity cost of increasing annual
products
6
Explain the slope of the production possibility
frontier
2
Analysis
Work demonstrates synthesis of concepts,
research, and experience
3
Work demonstrates the student’s ability to tie
relevant information to real-life applications.
2
Analysis exceeds basic comprehension to
demonstrate higher-order thinking.
2
Writing Skills
Correct use of APA 6th edition format, all sources
used to support the paper are referenced
2
Sentences are clear, concise, and direct; tone is
appropriate, spelling, grammar, and punctuation
are correct.
3
Total
25
Points
Earned
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