having an absolute advantage means being able to do something using fewer resources than other producers require(True/False) 2.

1. having an absolute advantage means being able to do something using fewer resources than other producers require(True/False)

2. the elasticity of demand is greater in the long run because consumers have more time to adjust to a price change(True/False)3. the monopoly market structure is the extreme opposite of the perfect competition market structure(True/False)