Truefalse explain for each of the following statements

Question

True/False, Explain: For each of the following statements about elasticity (price and cross-price), indicate True or False and explain your answer.

1. For linear demand, the slope and the elasticity are identical at any given price.
2. Demand for a good has been estimated as Q = 1,998 - 74P where Q is units per month and P is $/unit; thus, the price elasticity at the point P = $18 is -2.0.
3. If demand is relatively elastic at the current price, then a decrease in price will result in an increase in total revenue.
4. If the price elasticity is zero, then any price change will also have a zero effect on total revenue.
5. If the cross-price elasticity of demand for milk with respect to soda is e_{Milk, Soda} = +0.12, then the cross-price elasticity of demand for soda with respect to milk would also be +0.12.