Indicate whether each of the following statements is TRUE, FALSE, or UNCERTAIN and EXPLAIN WHY.

1. “Zimbabwe experienced hyperinflation. All prices were going up at astronomical rates, including the price of water. Therefore, it was very much in the interest of businesses to conserve on their use of water.”

2. “If a company has a building that has already been paid for, then aside from property taxes, utilities, and maintenance, it has facilities that are cost-free.”

3. “If the supply of a product increases, its price will fall, and the quantity demanded will increase."

4. “In the case of a positive network effect, the market demand for the product is likely to be quite inelastic as compared to the case where no network effect exists."