True/False/Uncertain. Evaluate whether the following statements are true, false or uncertain. Make sure to
explain your reasoning
a. The equilibrium outcome in a monopolized market is efficient because the monopolist always produces where marginal cost equals marginal revenue
b. In the presence of a binding price ceiling, a good will always be efficiently allocated among consumers.
c. The opportunity cost of a free ice cream cone from Ben Jerry’s is zero.
d. A rise in the price of olive oil will cause the demand curve for olive oil to shift inward