Tell if the following are true or false, If false tell why

(a)For a normal good, the income effect reinforces the substitution effect, so the demand curve slopes downward. For an inferior good, the income effect and the substitution effect work in opposite directions and the demand curve slopes upward.

(b)Under a price ceiling, the full economic price is lower than the free-market price.

(c)In the absence of any opportunity costs, accounting profits equal economic profits.

(d)An increase in the price of beef leads to an increase in the supply of beef.

(e)Good A is an inferior good; an increase in income leads to a decrease in the quantity demanded for good A.

(f)If over the relevant range the Income Consumption Curve is parallel to the y-axis, the income elasticity of demand for both X and Y is positive.

(g)There are no linear demand or supply curves where both slope and elasticity are constant at all prices.

(h)So long as the cost of producing one additional unit is greater than zero, consumer surplus at the revenue-maximizing price is less than consumer surplus at the profit-maximizing price.

(i)The marginalutility of money is constant along an individual's Income Consumption Curve.

(j)Whenever Total Product increases at an increasing rate, Average Product is rising; whenever Total Product increases at a decreasing rate, Average Product is falling.