(Figure: Coats and Sweaters I) Which of the following statements is FALSE? 
I. At point A, the consumer is willing to give up three winter coats for one wool sweater.
II) At point B, the consumer is willing to give up one winter coat for four wool sweaters.
III) At point A, the consumer is willing to give up three wool sweaters for one winter coat.
IV) At point B, the consumer is willing to give up four wool sweaters for one winter coat.
Definitions:
Machine-Hours
A calculation of activity or production volume, taking into account the length of time machines are in use.
Direct Labor-Hours
The total hours of work contributed by employees who are directly involved in the manufacturing or production process.
Forming
The first stage in group development, characterized by members' initial coming together, getting acquainted, and exploring the boundaries of the group.
Customizing
Modifying or personalizing a product or service according to specific requirements or preferences.
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