1.Answer each of the following statements True/False/Uncertain. Give a full explanation of your answer. A fully labeled graph is a welcome addition to any answer (if applicable), though it is not necessary.

A) A monopolist always prices in the elastic portion of consumer demand

B) The more effective the method of price discrimination, the lower the amount of deadweight loss

C) A per-unit tax in the S-D model yields the same result whether or not the tax is imposed on consumers or producers

D) A firm's production function is ordinal in nature, not cardinal

E) In the short run, firms in a competitive market will shut down if the equilibrium price is less than the average total cost

F) If firms collude, they restrict price and quantity (relative to the Cournot equilibrium)