1. The supply and demand model is best used to analyze markets where buying and selling is highly concentrated among a few buyers and sellers.True/False
2. In the supply and demand model, market prices are determined by sellers while buyers decide to accept those prices and buy the good or reject those prices and not buy the good.True/False
3. In the standard analysis methods in our class, when a new advertising campaign successfully creates a buzz over the benefits of a new supplement pill that increases your memory, the demand for these pills will increase, causing the supply to increase, and overall, prices will rise.True/False