Part 3: True & False with justification

1. the distance between the variable cost and total cost is the fixed cost.

True /False

2. If you own a unit elastic product, you would better increase the price to achieve higher revenue.

True /False

3. Shutdown point occur when the producer just cover the costs.

True/ False

4. The gentle inflation is normal for expansion country.

True/ False

5. The Monopoly producer will produce at point where marginal revenue equal the marginal cost.

True/ False

6. In the monopoly, the marginal revenue is the same as the price.

True/ False

7. The macroeconomic equilibrium achieved when the AD = AS plus the exported goods.

True/ False

8. The nominal GDP is better than real GDP.

True /False

9. the monopolistic competition have many buyers and sellers but produce different products.

True/False

10. If we have a product that its elasticity equal to -1.5, this will consider to be elastic product.

True /False