1. County A has an absolute advantage in widget products. This means that county A. A. Can produce widgets at a lower opportunity cost than any other producer. B. Can produce widgets at a higher opportunity cost than any other producer. C. Can produce a lower quantity of widgets than any other producer if given the same quantity of resources. D. Can produce the same quantity widgets than any other producer if given the same quantity of resources. E. Can produce a higher quantity of widgets than any other producer if given the same quantity of resources. 2. The table attached shows the amounts of products that company Z can produce together. Which of the following statements is true? A. Resources are underutilized. B. The data shows a constant opportunity cost. C. The profits from sale of bags of beans are higher than profits from sale of bags of rice. D. The opportunity cost of the second bag and seventh bag of rice or 53 and 0, respectively. E. The opportunity cost of moving from production level A to B is lower than moving from D to E. 3. According to rational consumer choice, what will happen to the optimal quantity of consumption for a good if the price decreases? A. It will decrease along with total utility. B. It will decrease. C. It will increase. D. It will be unaffected. E. Insufficient data to determine.