questions SCENARIO 1: Consider the following data for the harvest of crabs versus the harvest of fish off the coast of.

• Refer to Scenario 1. Graph the production possibilities frontier and calculate the

 average opportunity cost of any of the first fifteen crabs produced

• Refer to Scenario 1. What is the economic significance of 25 fish captured and 25 crabs captured?
• Refer to Scenario 1. Explain how this economy might be able to produce 45 fish and 45 crabs?
• Refer to Scenario 1. If this economy is currently producing 30 crabs and 40 fish how is it possible for it to produce more of both?

Refer to Scenario 1. Assume this economy could either be at Point B or Point C. From which of these points is it more costly to produce more crabs? Explain your answer.