In Michael Porter's five competitive forces model, what do the competitive forces determine?

Suppose the equilibrium quantity of labor hired decreases and the equilibrium real wage rate increases. All else constant, this situation will also result in

A) more government outlay for the unemployed. B) higher output prices. C) lower output prices. D) fewer benefits for those still unemployed.

Because of the large number of firms that operate in the agricultural industry, the supply of agricultural products is inelastic over the entire range of output

Indicate whether the statement is true or false