True or False Questions (2 points each) (16) TF If a 22% decrease in the price of product X results in a 0.11% decrease in the demand for product Y, then X and Y are substitutes. (17) TF The farm share of the US consumer food expenditures has steadily declined over time. (18) TF Advertising and market information create possession utility. (19) TF Pricing efficiency is achieved when productive and allocative efficiencies are attained. (20) TF Increasing plant size can improve operational efficiency, given that higher production results in lower fixed and total costs per unit. (21) TF Agent middlemen specialize in risk taking and profit from short- run price fluctuations. (22) TF Market intelligence and risk bearing both create form utility. (23) TF Agribusiness includes farm input supply sector, farm production, and food consumers. (24) TF Merchant middlemen act only as representatives of buyers and sellers, however they take title to the products they handle