The demand curve facing a firm in monopolistic competition is elastic

Depreciation is the term used when plants, equipment and housing deteriorate and wear out, thus losing their original values

Indicate whether the statement is true or false

The "invisible hand" refers to the notion that

A) competitive markets send resources to their highest valued uses. B) government intervention is necessary to ensure efficiency. C) marginal benefit decreases as more is consumed. D) marginal cost increases as more is produced. E) no matter what allocation method is used, the resulting production is efficient.