This is my question: Thank you

I. TRUE OR FALSE (5 pts each). No points will be given Without a short explanation of your answer. 1. The long run effect of a quantity tax imposed on a competitive industry is that consumers end up paying the Whole tax amount. 2. To minimize the cost of producing a given amount of output, the marginal products of all inputs must be equalized. 3. If average variable cost is decreasing then marginal cost is decreasing. 4. The prot-maximizing (unconditional) demand for an input equals its long-run condi- tional input demand for producing the prot-maximizing output quantity. 5. Prots are larger for rms with more efcient managers