9. The Shellfish Shack produces only shrimp and oysters. The table below shows the maximum possible output combinations of the two types of shellfish using all resources and currently available technology. a. b. C. Possible Output Combinations A B C D E F G H Shrimp (thousands of pounds) 35 30 25 20 15 10 5 0 Oysters (thousands of pounds) 0 20 35 47 57 64 68 70 Suppose The Shellfish Shack is currently producing at point E. What is the opportunity cost of producing an additional 11,000 pounds of oysters? Suppose The Shellfish Shack is currently producing at point E. What happens to the opportunity cost of producing more and more shrimp? Does it increase, decrease, or remain constant? Explain your answer by using the data on the table. Suppose The Shellfish Shack is currently producing at point B. What happens to the opportunity cost of producing more and more oysters? Does it increase, decrease, or remain constant? Explain your answer by using the data on the table.
9. The Shellfish Shack produces only shrimp and oysters. The table below shows the maximum possible output combinations of the two types of shellfish using all resources and currently available technology. a. b. C. Possible Output Combinations A B C D E F G H Shrimp (thousands of pounds) 35 30 25 20 15 10 5 0 Oysters (thousands of pounds) 0 20 35 47 57 64 68 70 Suppose The Shellfish Shack is currently producing at point E. What is the opportunity cost of producing an additional 11,000 pounds of oysters? Suppose The Shellfish Shack is currently producing at point E. What happens to the opportunity cost of producing more and more shrimp? Does it increase, decrease, or remain constant? Explain your answer by using the data on the table. Suppose The Shellfish Shack is currently producing at point B. What happens to the opportunity cost of producing more and more oysters? Does it increase, decrease, or remain constant? Explain your answer by using the data on the table.
Principles of Economics 2e
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Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter13: Positive Externalities And Public Goods
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Question
![9.
The Shellfish Shack produces only shrimp and oysters. The table below shows the
maximum possible output combinations of the two types of shellfish using all resources and currently
available technology.
a.
b.
C.
Possible Output
Combinations
A
B
C
D
E
F
G
H
Shrimp
(thousands of
pounds)
35
30
25
20
15
10
5
0
Oysters
(thousands of
pounds)
0
20
35
47
57
64
68
70
Suppose The Shellfish Shack is currently producing at point E. What is the
opportunity cost of producing an additional 11,000 pounds of oysters?
Suppose The Shellfish Shack is currently producing at point E. What happens to the
opportunity cost of producing more and more shrimp? Does it increase, decrease, or remain
constant? Explain your answer by using the data on the table.
Suppose The Shellfish Shack is currently producing at point B. What happens to the
opportunity cost of producing more and more oysters? Does it increase, decrease, or remain
constant? Explain your answer by using the data on the table.
d.
Suppose The Shellfish Shack is plagued by a disease which destroys oyster beds
but not shrimp habitats. Make a sketch of the original and the new PPF, describe what
happens](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7178b353-e247-425b-84b6-e33a7df0f469%2Fe42767a9-5df2-4997-be45-e9b51d8a296d%2Fdzzacla_processed.png&w=3840&q=75)
Transcribed Image Text:9.
The Shellfish Shack produces only shrimp and oysters. The table below shows the
maximum possible output combinations of the two types of shellfish using all resources and currently
available technology.
a.
b.
C.
Possible Output
Combinations
A
B
C
D
E
F
G
H
Shrimp
(thousands of
pounds)
35
30
25
20
15
10
5
0
Oysters
(thousands of
pounds)
0
20
35
47
57
64
68
70
Suppose The Shellfish Shack is currently producing at point E. What is the
opportunity cost of producing an additional 11,000 pounds of oysters?
Suppose The Shellfish Shack is currently producing at point E. What happens to the
opportunity cost of producing more and more shrimp? Does it increase, decrease, or remain
constant? Explain your answer by using the data on the table.
Suppose The Shellfish Shack is currently producing at point B. What happens to the
opportunity cost of producing more and more oysters? Does it increase, decrease, or remain
constant? Explain your answer by using the data on the table.
d.
Suppose The Shellfish Shack is plagued by a disease which destroys oyster beds
but not shrimp habitats. Make a sketch of the original and the new PPF, describe what
happens
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