Living in a world of scarcity involves trade-offs

A shift of a demand curve to the right, all other things unchanged, will:

A) increase equilibrium price and quantity. B) decrease equilibrium price and quantity. C) decrease quantity and increase price. D) increase quantity and decrease price.

Refer to the information provided in Figure 12.5 below to answer the question(s) that follow.  Figure 12.5  Refer to Figure 12.5. A firm produces hula hoops in a perfectly competitive market and currently produces and sells 100 per week. At this production quantity of 100 per week, society would be best served

A. if the price was higher than $10 per hula hoop. B. if the price was lower than $10 per hula hoop. C. if the price remained at $10 per hula hoop. D. Society cannot be best served at a production quantity of 100, regardless of the price per hula hoop.