For each identify if the statement is True, False or Indeterminate. Explain

1. Among the arguments made by critics of the federal government's bailouts of big banks during the 2008 financial crisis was that the bailouts would create asymmetric information, which is a form of market failure.

2. The monopolist selling Unique Toy, which cost $10/each to produce faces the following demand curve: Q = 40 - 2P

The monopolist will charge $15/toy and will sell 10 Unique Toys (For either true or false, please show how you got the answer).

3. Increased antibiotic resistance occurs primarily as a direct consequence of monopoly power, when pharmaceutical companies with patents sell fewer antibiotics at higher prices that would be the case in a competitive market.

4. "black swan" event is an event that is characterized by three attributes: rarity, extreme impact, and retrospect (but not prospective) predictability.