Indicate whether each statement below is true or false. Then support your response with diagrams, equations and labels.

1. An oligopolistic firm will probably produce at the kink in its' demand curve Answer Diagrams/equations/labels 2. A monopolistic competitor will not be allocationy efficient in the long run. Answer Diagrams/equations/labels3. Regulating a natural monopoly using average cost pricing requires a government subsidy to the monopolist Answer Diagrams/equations/labels