Circle either True or False in the three statements below. (Zpts each) (Note that these statements are unrelated to the graph above) TRUE FALSE If a country introduces a tax on exports profit maximizing firms equate their marginal rate of technical substitution to the new equilibrium world price ratio. (A tax on exports has the opposite effect of an export subsidy TRUE FALSE The Metzler paradox can refer to the situation where an import tariff results in the terms of trade falling so much that the factor used intensively in the production of the good sees its factor reward fall. TRUE FALSE Reductions in an import tariff decreases welfare in the tariff reducing country's trading partner