True or false

(21) Perfect competition is characterized by a very large number of firms producing homogenous products.

(22) When Target entered the Canadian market in 2005, demand for Walmart products and those of other supermarkets most likely became more elastic, ceteris paribus.

(23) Annual variability in agricultural production is caused by factors other than seasonality of agricultural production.

(24) Brokers specialize in risk taking and profit from short-run price fluctuations.

(25) Speculative middlemen act only as representatives of buyers and sellers, and do not take title to the products they handle.

(26) Agribusiness includes farm input supply sector, farm production, and consumer segment.

(27) Monopolistic competition is characterized by a single firm entirely dominating a given market.

(28) Love and belongingness need is a basic need.

(29) Engel's law is an observation in economics stating that as income rises, the proportion of income spent on food rises more rapidly.

(30) If the demand curve for Rendezvous coffee is inelastic, then declining Rendezvous coffee prices would lead to higher revenues for Rendezvous cafe.