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5. With the resources available, you can make the combinations

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5. With the resources available, you can make the combinations of Ums and Umies (trinkets from a place called Bandarban) shown in the table. The marginal opportunity cost of producing 60 Umies instead of 30 Umies is:
(Points : 5)
10 Ums.
20 Ums.
30 Ums.
40 Ums.


6. Refer to the graph below. Productive efficiency is achieved at what points?
(Points : 5)
A, B, and M.
C, D, and N.
A, C, and F.
M, D, and E.


7. Which statement best summarizes the theory of the invisible hand? (Points : 5)
Government policies direct people's selfish desires (tempered by social and economic forces) to the common good.
Cultural norms direct people's selfish desires (tempered by political and economic forces) to the common good.
Markets direct people's selfish desires (tempered by political and social forces) to the common good.
Social, political, and economic forces act against people's selfish desires to promote the common good.


8. Only marginal costs, not sunk costs, should affect economic decisions if individuals are rational. (Points : 5)
True
False
Hi,

Thanks for the questions.

Could you provide the table in #5 and the graph for #6?
Customer: replied 4 years ago.
number 6
Customer: replied 4 years ago.
5
Hi,

Thanks for the info. The answers are:

6. 20 Ums.
7. A, C, and F.
8. True

Hope this helps!
Customer: replied 4 years ago.
How about question 7?
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