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True or False (Determine if the statement is true or false and write the answer below....

True or False (Determine if the statement is true or false and write the answer below. Each question is worth 1 point.)
1) Macroeconomics is concerned with the behavior of all of the firms in a particular industry, while microeconomics focuses on a single firm in the same industry.
Answer:
2) Managerial economics refers to the application of macroeconomics and microeconomics to business decision making.
Answer:
3) Because it is the only firm operating in a particular market, a monopolist is guaranteed to earn an economic profit.
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