a Which of the following statements about operating leverage is/are likely to be true? 1. A firm with low operating leverage faces lower risk compared to a firm with higher operating leverage, all else being equal. 2. A firm should always try to minimise its operating leverage, all else being equal. 3. A manufacturing firm that uses more automation (and less human labour) would have a lower operating leverage compared to a firm that uses more human labour (and less automation), all else being equal. Statement 1 only Statement 2 only Statement 3 only Statements 1 and 2 only Statements 1, 2 and 3