Hello please help me to answer 15 items below. kindly explain (briefly) your answer. thank you!

Part 1 (1/2)

1. The welfare of the consumers is maximized under a purely competitive market. *

True

False

2. Under a duopoly, there are two sellers. *

True

False

3. A monopolist does not incur losses because it has the market all to itself. *

True

False

4. A monopolistically competitive market has many sellers but the products are differentiated. *

True

False

5. Prices charged to consumers are higher when there is less degree of competition. *

True

False

6. It is easy to exit or stop production if the market condition is no longer profitable if there is very low investment in fixed assets. *

True

False

7. Patents and copyrights serve as barriers in entering an industry and in competing against the already existing producers. *

True

False

8. The long run economic profit will remain positive if there are high barriers to entry. *

True

False

9. The success of a collusive agreement declines with the increase in the number of members. *

True

False

10. Advertising expense is used to make the products of the producers more similar to others. *

True

False

11. If one uses his own money to finance an investment, there should be no interest cost *

True

False

12. If the Net Present Value of the expansion project is positive, this means that it is advantageous to expand *

True

False

13. The longer the time before the revenues are received, the higher is the net present value of those revenues *

True

False

14. The more uncertain the future, the lower should be the discount factor in evaluating an investment. *

True

False

15. In evaluating an investment, we do not discount the cost regardless of when the cost is incurred. *

True

False