Please help me answer 12 this simple question, I will rate your work if it true

Question 1(Multiple Choice Worth 2 points)

(01.03 MC)

On a production possibilities curve (PPC), an improvement in the state of technology affecting all goods would signify what type of shift?

A shift beyond the vertical axis

A shift beyond the horizontal axis

An inward shift

An outward shift

No shift at all

Question 2(Multiple Choice Worth 2 points)

(01.03 MC)

Which graph represents an increasing opportunity cost of changing production?

Question 3(Multiple Choice Worth 2 points)

(01.03 MC)

On a production possibilities curve (PPC), what does an outward shift imply?

There has been an increase in technology and/or resources.

Government intervention has introduced alternative inputs.

Inputs and outputs have balanced out to make an efficient market.

Trade has increased to allow more resources to enter the market.

There has been an increase in both supply and demand.

Question 4(Multiple Choice Worth 2 points)

(01.04 MC)

Company Q can produce 15 pairs of socks and 5 belts in one hour. Company Z can produce 20 pairs of socks and 20 belts in one hour. Which of the following is true?

Only Company Q can benefit from specialization and trade.

Company Q has an absolute advantage in both socks and belts.

Company Q has an absolute advantage in belts and a comparative advantage in socks.

The opportunity cost for Company Q is the same whether producing socks or belts.

Company Q has a comparative advantage in socks and Company Z has an absolute advantage in both socks and belts.

Question 5(Multiple Choice Worth 2 points)

(01.04 HC)

Assume Country Q and Country P can produce only two goods: gadgets and widgets. Country Q has an absolute advantage in widgets and a comparative advantage in gadgets. Assume each country has constant opportunity costs of production. Country P must have

an absolute advantage in gadgets

a comparative advantage in widgets

an absolute and comparative advantage in widgets

an absolute and comparative advantage in gadgets

no absolute advantage in either good, but a comparative advantage in widgets

Question 6(Multiple Choice Worth 2 points)

(01.06 MC)

What role do fixed costs play in marginal analysis?

They are averaged into the marginal cost.

Their value is the level that marginal costs should equal.

The sum of all marginal costs equals the fixed costs.

They are ignored and have no bearing on marginal cost.

They determine the marginal benefit a consumer or producer is referencing.

Question 7(Multiple Choice Worth 2 points)

(01.06 MC)

Below shows the total utility Mike enjoys based on eating different quantities of miniature powdered donuts.

Miniature Powdered Donuts Consumed	Total utility (utils)
1	12
2	20
3	26
4	29
5	28
6	25

Based on the table above, what is the marginal utility of the fourth powdered donut?

3 utils

12 utils

20 utils

26 utils

29 utils

Question 8(Multiple Choice Worth 2 points)

(01.06 LC)

According to rational consumer choice, what will happen to the optimal quantity of consumption for a good if the price increases?

It will increase along with total utility.

It will decrease.

It will increase.

It will be unaffected.

Insufficient data to determine

Question 9(Multiple Choice Worth 2 points)

(01.01 MC)

Which of the following is an example of a non-rival good?

Fireworks for everyone in their sightline

A toll road

A glass of water

Seats at a movie theater

An unclaimed spot on a beach

Question 10(Multiple Choice Worth 2 points)

(01.04 MC)

A producer can produce a good at lower unit cost than any other producer. For that good, the producer must have

a comparative advantage

diminishing marginal utility

beneficial terms of trade to offer

an absolute advantage

more factors of production

Question 11(Multiple Choice Worth 2 points)

(01.05 MC)

The table below shows the amounts of products that Company Z can produce together.

Production Level	Bags of Beans	Bags of Rice
A	60	0
B	57	1
C	53	2
D	49	3
E	42	4
F	30	5
G	25	6
H	0	7

Which of the following statements is true?

Resources are underutilized.

The data shows a constant opportunity cost.

The profits from sale of bags of beans are higher than profits from sale of bags of rice.

The opportunity cost of the second bag and seventh bag of rice are 53 and 0, respectively.

The opportunity cost of moving from production level A to B is lower than moving from D to E.

Question 12(Multiple Choice Worth 2 points)

(01.01 LC)

Which of the following makes trade-offs necessary?

Diminishing marginal returns

Diminishing marginal utility

Limited resources and unlimited wants and needs

Different opportunity costs

An excess of supply