M1 includes savings deposits

In the specific factors model, a country's production function is ________ because of ________

A) a straight line; diminishing marginal returns B) a curved line; diminishing marginal returns C) a straight line; constant marginal returns D) a curved line; constant marginal returns E) a curved line; a limited supply of labor

In the model of the perfectly competitive firm, the firm's fixed costs are equal to its implicit costs of production

Indicate whether the statement is true or false