T/F a)The demand for a good falls when its production costs rise.b)The idea that demand will fall when the price of a good rises reflects the law of demand. c) Demand is the most important short-run determinant of supply. d) Buyers are likely to compete by queuing and bidding higher prices if the quantity demanded exceeds the quantity supplied. e) Saying that "the quantities demanded and supplied are equal", or that "demand equals supply", or that "demand prices equal supply prices", are all equivalent ways to express the idea that a market is in equilibrium. f) The inverse relationship of price and quantity demanded in the law of demand implies that (other factors being equal) people will purchase more items when the price falls. g) The law of supply works basically because business decision makers expect higher cost or greater profits from higher prices and increased amounts supplied. h)If a current market price produced a surplus, one may conclude that this price is above the equilibrium market price. i) Expectations of a price hike for a good that can be inventoried normally results in a temporary reduction in its supply