Just answer with true or false no need to explain or justify I have 30 min plz 1 The increasing opportunity cost is explained by the fact that as the production of a good increases, the costs of producing that good increase. In other words, more and more of another good must be given up. 2 The law of demand explains the positive relationship between price and quantity demanded, while the law of supply explains the positive relationship between price and quantity supplied 3 The year is 2013. The municipality of Saint Albert (Eastern Ontario) uses all its resources to produce two goods: milk and cheese. All cheese is produced by the Saint Albert Cheese Factory. On February 3, 2013, a fire ravaged the Cheese Factory. This accident will have resulted in the the entire PPC of the Saint Albert economy to the right 4 In one of its issues the Kiri-Bati Daily reveals that the Kiri-Bati economy has a production capacity utilization rate of 75% in the first quarter, 80% in the second and 95% in the third. All three situations would fall on the Kiri-Bati Production Possibility Curve (PPC) 5 Can we expect that a significant increase in the price of an effective cancer drug will result in a significant decrease in the quantity demanded of that drug? 6The minimum wage is an example of a price floor 7 If Canada decided to set a maximum price for gasoline, this would be an example of a price ceiling 8 When the quantity offered is greater than the quantity demanded, this creates a shortage situation in the market. This creates upward pressure on prices. 9 When the price elasticity of demand is equal to 0, the price increase or decrease of the product has no effect on the quantity demanded of the product. In this case, reducing the price in the hope of increasing sales is a bad business strategy