Answer and explain your choice. I will rate accordingly with multiple votes. Ty-ped answer only...

QUESTION 1 You are currently on your summer break. You could either enjoy your summer in Hawaii with your friends or open a sausage stall at the local market with your mom, knowing that the market for sausages is perfectly competitive. 1. Going to Hawaii with your friends is your explicit cost when deciding to enter the market. 2. If you and your mom decide to open a sausage stall, your demand curve as a seller is perfectly elastic. 3. If you and your mom are expecting to gain a normal profit, you should definitely not enter the market. Which of the above statements are true? Only 1 is true. Only 2 is true. Both 1 and 2 are true. Both 2 and 3 are true. All three are true