The opportunity cost of getting an MBA at University includes the time you give up to prepare for exams. (True or False) Why?For hypothesis to be called scientific, it has to be conceivable that it can be shown to be false. (True of False) Why?The model of perfect competition assumes that any individual buyer or seller can affect market price. (True or False) Why?IF the demand for heroin is price elastic, a reduction in the availability of heroin due to increased law enforcement efforts will increase total expenditures on heroin. (True or False) Why?If the price of pizza goes up by 10% and the quantity demanded of pizza decreased by 4%, we can conclude that pizza is inelastic in this segment of the demand curve. (True or False) Why?