True or False please explain
1 If the price elasticity of demand is higher in one market than in the other, the
optimal pricing strategy is to charge a higher price in the market with the higher
elasticity of demand than in the market with the lower elasticity.
2 Economic theory suggests that there will always be illegal immigration into
countries that have much higher salaries than neighboring countries.
3 Dynamic pricing is an economist dream come true.
4. Dynamic pricing is very unfair, since poor people will not be able to afford the
good or service in question during peak demand periods.
5. Income elasticities of demand can never be equal to zero