True/False - Briefly explain whether each of the following statements is true or false.

i. The demand for computer programmers is more elastic than the demand for secretaries in Silicon Valley.

ii. At a given wage rate, labour demand by a monopolistic firm is larger than a perfectly competitive firm since they have higher profits and can hire more labour.

iii. The wage elasticity of demand for labour depends on the ratio of labour cost to total cost.

iv. In the long run, a firm hires worker such that the value of the marginal product of labour is equal to the price of labour.