2. (30 points) True or False. Pick TWO of the following three claims, and assess whether they are true or false. Do not answer all three (if you do, I will count your two worst responses). Do not forget to explain your answer (just a "true" or "false" gives zero points). All the assumptions in class carries here. (3) (15 points) There are three identical producers in the market, the supply of each firm is q= p" when p 3. If one producer drop out of the market for no reason. Claim: the market supply is less elastic responding to price change. (b) (15 points) Claim: if the isoquants of a production function are all straight lines, it is still possible that it has increasing returns to scale. (c) (15 points) Nan's supply of microeconomic questions can be written as q= 1000. Claim: Nan's supply of microeconomic questions is not too sensetive to the change of price, because the price elasitic of the supply is infinitely high