Assume that peanut butter and jelly are complementary goods. A decrease in the number of peanut butter suppliers will cause the

Suppose the equilibrium price for soft drinks is $1.00. If the current price in the soft drink market is $1.25 each

A) there will be a surplus of soft drinks. B) there will be a shortage of soft drinks. C) the supply curve of soft drinks will shift leftward. D) the demand curve for soft drinks will shift leftward.

If economic profit is equal to zero, then

A) the entrepreneur's profit as measured by accountants is also equal to zero. B) the entrepreneur's profit as measured by accountants must be less than zero. C) the entrepreneur is making only a normal profit. D) The entrepreneur's profit cannot be determined based on the information given.