xplain whether the following statements are true or false.

1. Producer may produce even when the market price of the product is lower than the ATC.
2. The fixed cost curve is sometimes rectangular hyperbolic.
3. Cost efficiency means reducing the fixed cost of production in order to increase profit.
4. Producers must ensure they produce in the long run in order to maximize profit
5. The short run is the time period in which the level of fixed cost is zero.Imagine a firm using only one variable input.
6. When the Marginal Product of using every next unit of this input is decreasing, the Marginal Cost (MC) of every next unit of output will be necessarily increasing.
7. Producer's production function is in no way related to his/her cost function.