1. If a firm increases output and its average total cost rises, then the firm is experiencing diseconomie 2. If the price elasticity of demand is equal to 2.0, this means a 10% increase in price will result in a 2 decrease in the quantity demanded. 3. In a free market, surpluses cause prices to eventually rise while shortages cause prices to eventu 4. "The unemployment rate in the United States is estimated to be around 3.7%." This statement is economic statement. 5. If consumers' income falls and people buy less of a good, it is an inferior good. 6. In order from the most to the least competitive market structure is the perfectly competitive, mor competitive, monopolist and then the oligopolistic market structure. B