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Bu224 Microeconomics Unit 2 Assignment: Analyzing the Production Possibility Frontier of St. Atanagio Island

A study on production possibility frontiers in microeconomics.

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    Bu224 Microeconomics Unit 2 Assignment: Analyzing the Production Possibility Frontier of St. Atanagio Island Microeconomics Bu224 Unit 2 Unit 2 Assignment: St Atanagio Name: - Course Number: - BU224 Section Number: - Unit Number: - 2 Date: - 12 - 17 - 2013 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 Quantity of Corn (pounds) Quantity of Poultry (pounds) 1 1200 0 2 1000 300 3 800 500 4 600 600 5 400 700 6 200 775 7 0 850 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.

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