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 B 57 53 2 D 49 3 F 42 30 5 G 25 6 H 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) (01.04 MC) Frank can grow 15 bushels of tomatoes and 5 bushels of corn in one growing season. Mary can grow 15 bushels of tomatoes and 15 bushels of corn. In which crops should Frank and Mary specialize? O Specialization would not benefit Mary or Frank. O Neither Frank nor Mary should specialize in tomatoes. O Frank should specialize in tomatoes and Mary in com. O Mary and Frank should both specialize in tomatoes and corn. O Frank and Mary can benefit equally from specialization in com.Question 13(Multiple Choice Worth 2 points) (01.04 HC) Use the production possibilities table below to answer the following question. Assume constant opportunity costs for Tommy and Gina. Pillows per Day | Rugs per Day Tommy 5 10 Gina 15 15 Given the data above, which statement provides the correct rationale for a trade agreement of 1.5 rugs for 1 pillow? O Gina's opportunity cost for producing pillows is less than Tommy's. Tommy has a comparative advantage in both products, so he can dictate the terms of trade. O Gina has no incentive to trade with Tommy, because she has an absolute advantage in both products. Tommy has a comparative advantage in rugs, and Gina has a comparative advantage in pillows. Tommy has an opportunity cost that is lower than Gina for pillows, so he will want to trade pillows for rugs at a lower cost than he can produce them for himself.Good A Good B The shape of this production possibility curve illustrates that the producer's resources are equally suited to produce good A and good B O that it would be inefficient to produce only good A or only good B the increasing opportunity cost of changing production from A to B or vice versa constant opportunity cost for producing A and B decreasing marginal utility for the consumption of both goodsQuestion 15(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) 12 2 20 26 29 5 28 25 Based on the table above, what is the marginal utility of the fourth powdered donut? 0 3 utils O 12 utils O 20 utils 26 utils O 29 utils