Oligopolistic firms never collude because they have almost no incentive to do so

Which of the following statements is true?

A) A rational consumer makes his decisions depending on what the majority chooses. B) A trade-off refers to the exchange of goods between economic agents through a barter system or mutual exchange. C) A budget constraint is an economic tool that quantifies the trade-off between consumption of two goods. D) All rational economic agents attempt to maximize their income.

Figure 4.2 illustrates the supply and demand for t-shirts. If the actual price of t-shirts is $7, we would expect that

A) supply will increase until quantity demanded equals quantity supplied. B) price will increase until quantity demanded equals quantity supplied. C) demand will decrease until quantity demanded equals quantity supplied. D) there will be no change in the price since the market is in equilibrium.