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

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter13: Positive Externalities And Public Goods

Section: Chapter Questions

Problem 23P: HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow...

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