In trying to make a profit maximizing decision, managers are concerned about both supply and demand. Which of the following factors affect demand specifically? (select all that apply)

A worker's labor supply depends on, among other things, his ability, his preference for the task, and the opportunity cost of his time

a. True b. False

When consumer spending is broken down into the major categories of goods and services, the largest single category is spending on transportation

a. True b. False Indicate whether the statement is true or false