If suppliers expect an increase in price, they will reduce the current supply of a good

Suppose both buyers and sellers of wheat expect the price of wheat to rise in the near future. What would we expect to happen to the equilibrium price and quantity in the market for wheat today?

a. The impact on both price and quantity is ambiguous. b. Price will increase; quantity is ambiguous c. Price will increase; quantity will increase d. Price will increase; quantity will decrease e. Price will decrease; quantity is ambiguous.

When economists talk about a demand schedule for a product, they mean

A) the amount of a good that consumers intend to purchase at each price in a set of possible prices in a given time period. B) the amount of a good that consumers are able to purchase (though they might not be willing to) at different prices in a given period of time. C) the amount of a good that consumers intend to purchase at only one particular price in a given period of time. D) the amount of a good that producers are willing to make available for sale at a particular price in a given time period.