Reference no: EM132253337

Please if the following is True or False and explain why it is so

A. The reason why movie theater managers offer discounts to students is that they get a positive marginal utility by providing lower-income individuals with access to entertainment.

B.The price elasticity of demand for an industry is always smaller (in absolute terms) than the price elasticity of demand of firms within that industry.

C. The sum of all cross elasticity of demand (for substitute and complement goods) has to be equal to zero.

D. If the marginal cost curve slopes upward, then we have to revise the marginal revenue equals marginal cost principle, and add to it the fixed cost consideration.

E. Marginal cost curves are identical to supply curves.

F. The average cost can never be equal to the marginal cost.

G. The average cost is equal to the marginal cost only at one point; were the 2 curves intersect.

H. Transfer prices should be equal to the average variable cost, since fixed costs are irrelevant for economic decision-making.