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' Evaluate this statement: Is it true or false?Explain your answer. Q4. There are many cattle ranchers in the world, and there are also many McDonald's restaurants in the world. Why, then, does a McDonald's restaurant face a downward sloping demand curve while a cattle rancher faces a horizontal demand curve?How would this situation change if there were two McDonalds restaurants located very close to each other and only one of these firms raises its price?Q5. A sceptic says, 'marketing research and brand management are redundant. If a company wants to find out what customers want, it should simply look at what they are already buying'. Do you agree with the comment?Explain. Q6. Read the following excerpt and answer the following questions:CSR and Boral have announced the intention to form a joint venture of Australian east coast brick operations, citing reduced brick usage as a major cause for consolidation. The companies have proposed to combine brick operations in New South Wales, Victoria, Queensland, South Australia, Tasmania and the ACT. The move is subject to clearance by the Australian Competition and Consumer Commission ACCC.

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