Which of the following commodities have a high short-run own-price elasticity of supply?

The law of diminishing returns causes a firm's short-run marginal cost curve to be s-shaped

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

The idea of comparative advantage is related to

A) the idea of opportunity cost. B) the idea of absolute advantage. C) using the worker with the most diverse sets of skills. D) engineering efficiency.