QUESTION 3 Consider the following two statements. I. Bananas are sold in supermarkets across the United States. Therefore the banana market is national II. Miguel's Motors searches for and buys classic cars across rural Texas, and then sells them in San Antonio O I. is true, Miguel's Motors raises the price of classic cars in San Antonio. O I is true, Miguels' Motors makes the price of classic cars more even across rural Texas and San Antonio O I. is false, Miguel's Motors business model arbitages the prices of classic cars between rural Texas and San Antonio. O I is false, Miguel's Motors operates as a duopoly follower in the classic car market. QUESTION 4 Cross-price elasticity of demand measures how O a the quantity demanded by one consumer changes with respect to quantity demanded by another consumer. O b. trick question there is no such thing as a cross-price elasticity of demand.. O c the quantity demanded of one good changes in response to a change in the price of another good. Od the price of one good changes in response to a change in the price of another good. Oe the quantity demanded of one good changes in response to a change in the quantity demanded of another good