True or False (25 pts). Write True if the statement is true, and write False if the statement is false. 1. An individual's consumption bundle is the collection of all the goods and services consumed by an individual. 2. Marginal utility is the value or satisfaction from the total consumption of a good or service. 3. In the long-run, at least one input is fixed. 4. There are both fixed cost and variable cost in the short-run. 5. To determine if the firm is carning profit or incurring a loss, one should look at the relationship of the price and the minimum avcrage variable cost. 6. In the long run, new firms will enter a perfectly competitive industry when the market price is equal to the break-even price