Question: Need help on this one!! IV. (18 points) For three (3) of the following four (4) statements, use economic analysis to explain why you tend

Need help on this one!!

IV. (18 points) For three (3) of the following four (4) statements, use economic analysis to explain why you tend to agree, disagree or are uncertain. 1. "Macy department stores located at malls report economic losses due to decreased demand caused by online store competition and the Covid-19 outbreak, therefore Macy should shut down their mall department stores immediately." 2. "The more price elastic is the demand for a product, the more tax revenue the government will collect from an excise tax." 3. "Firms in a perfectly competitive industry earn zero economic profit." 4. "Production in a perfectly competitive industry is both productively and socially (allocationficient.&quot

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