People will buy more of an inferior good when their income decreases

When a market is in equilibrium:

A. there is neither excess demand nor excess supply. B. both excess demand and excess supply are positive. C. both excess demand and excess supply are positive and equal to each other. D. there is either excess demand or excess supply.

The firm's supply curve is made up of the

A. points where MC=MR. B. points where MC=MR, and they make a profit. C. points where MC=MR above the minimum of AVC. D. points where MC=MR, and they make at least breakeven.