Please do you best try and explain it, thanks a lot!

Consider the economy of the secret village on the North Pole which resembles the economic model from the textbook. It assumes that marginal costs of each rm are determined by labour costs, where labour is paid some wage , WjJO. On the product side, each rm operate in a monopolistically competitive goods market, which implies that they face a demand curve like in the picture. Llnoar Demand P I I - b ' q Given this setup, evaluate the truth or falsehood the following statements independently (i.e. not in combination). \"If they are willing to allow other variables to adjust accordingly, individual individual rms can... 1. sell some quantity of their goods at whatever price they like, up to a maximum price of a.\" (true / false) 2. sell whatever quantity of their goods that they like at some price, up to a maximum quantity of a/b.\" (true / false) 3. choose to take in whatever level of prots they like, up to a maximum of (lg/4b.\" (true / false) 4. choose the level of technology that they use.\" (true / false)