A monopolistic competitor's demand curve becomes less elastic as new entry occurs

The difference between iron ore deposits and the steel produced from these deposits that is later used to make factory equipment illustrates the difference between:

A) labor and a natural resource. B) labor and capital. C) a natural resource and capital. D) a natural resource and entrepreneurship.

Which of the following is an example of an investment in human capital?

a. a law student who works as a waiter in the summer b. on-the-job training received by an apprentice welder c. payments into a retirement pension plan by a skilled laborer d. all of the above are correct.