Which buyers and sellers are included in the market under consideration depends on:

Demand curves for the services of productive resources

A) have no meaning, because people must have income in order to live. B) obey the law of demand. C) tend to be perfectly elastic in the long run because any resource can ultimately function as a substitute for any other. D) tend to be perfectly inelastic in the short run as long as production processes are determined by technology.

The earnings of a resource include both opportunity cost and economic rent, if the supply curve of a resource is downward sloping

Indicate whether the statement is true or false