Unit 2 |
[Microeconomics] |
Unit 2 Assignment: St Atanagio
Name: -
Course Number: -
Section Number: -
Unit Number: - 2
Date: -
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.
1. 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?
1. What is the opportunity cost of increasing the annual output of corn from 800 to 1000 pounds?
1. What is the opportunity cost of increasing the annual output of corn from 200 to 400 pounds?
1. 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?
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References:
Grading Rubric
Microeconomics: Unit 2 Assignment: PPF and Opportunity Costs |
||
Content |
Points Possible |
Points Earned |
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 |
|
Subculture Questions ((bikers culture)).
1-When did the person start begin a part of biker culture?
2-How did you feel after joining this group?
3-How does the community at large feel about this biker culture?
4-What made you get into this culture ? What prompted you?
5-What is it likes to be a day in the life of you or your culture?
6-What is so significant about your culture?
7-What do you like/ What don’t like about your culture?
8-How long has this culture been around?/ Where did this culture start?
9-What is your agenda/ massage/ movement?
10-What are the roles of man and women in this subculture?
11-What is the point of the biker culture?
12-What are some symbols and meanings in the biker culture?
13--How did you feel after joining this group?
14-What are some goals for your group?
15-How does your culture influence your fashion choices?

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