Which one of the following statements is false? a. prices play a central role in microeconomics. b. microeconomics studies how consumers, workers and firms can make optimal trade-offs. c. microeconomics is about the allocation of scarce resources. d. microeconomics is concerned with the fair and equitable distribution of resources among consumers.

Dakota company experienced the following events during 2016. 1. acquired $30,000 cash from the issue of common stock. 2. paid $12,000 cash to purchase land. 3. borrowed $10,000 cash. 4. provided services for $20,000 cash. 5. paid $1,000 cash for utilities expense. 6. paid $15,000 cash for other operating expenses. 7. paid a $2,000 cash dividend to the stockholders. 8. determined that the market value of the land purchased in event 2 is now $12,700