true / false 1. Higher levels of competition in the market structure lead to deadweight loss since firms are spending significant resources to...

true / false

1.    Higher levels of competition in the market structure lead to deadweight loss since firms are spending significant resources to compete with one another.

2.    The business cycle affects income, unemployment rates, and inflation rates. These economic environment factors should be taken into consideration by marketers of food and agricultural products.

3.    Every giffen good has to be an inferior good, but some inferior goods are not necessarily giffen goods.