1. Other things remaining unchanged, advertisement would likely make demand for a good more price elastic.

True

False

2. The cross price elasticity demand for a good with respect to the price of a complementary good is negative.

True

False

3. When the marginal product of labor is smaller than its average product, marginal cost will be smaller than average variable cost.

True

False

4. With capital measured along the vertical axis and labor along the horizontal axis the slope of an isoquant is equal to the ratio between the price of capital over the price of labor.

True

False