Economists prefer to talk about the "quantity demanded" rather than the "quantity needed" or the "quantity wanted" because

Using the above figure, suppose that roses are a normal good. If there is an increase in income

A) the equilibrium price will rise above $25 per dozen roses. B) the equilibrium quantity will decrease below 10 dozen roses. C) we cannot predict what will happen to the equilibrium price. D) we cannot predict what will happen to the equilibrium quantity.

A new domestic industry with a potential for economies of scale is a(n):

A) agglomeration industry. B) infant industry. C) monopsonistic industry. D) competitive industry.