5. (40 Points) State whether the following statements are TRUE, FALSE, or UNCER TAIN and explain why. You can take the non-italicized portions as given. For each of these problems, you must explain your answer with words, math, and/ or pictures. The quality of the explanation is a substantial part of the grade. (a) (4 Points) Suppose that some rm uses labor and capital to produce output, but is unable to adjust its capital stock in the shortrun. True, False, or Uncertain: the supply curve will be more upward-sloping in the short-run than in the long-run. (b) (4 Points) Let's assume that someone is in the process of adopting a shelter cat (that they already love very much). True, False, or Uncertain: a reasonably risk-averse person should buy fairly-priced \"health insurance\" that would pay (if needed) for the cat's expensive life-saving medical procedure over the following year. (c) (4 Points) Let's continue with the cat example. True, False, or Uncertain: a rea- sonably risk-averse person should buy fairly-priced \"life insurance\" that provides a large payout in the event that the cat dies over the following year. (d) (4 Points) True, False, or Uncertain: there is no need for the government to subsidize applied science applications because rms will be able to patent their invention and price as a monopolist. (e) (4 Points) True, False, or Uncertain: car insurance is more eapensive for those under 21 years old because of price discrimination