A firm's supply curve is that portion of its average cost curve that lies above their marginal cost curve

The degree of inequality in the distribution of income in an economy is depicted in a(n):

A. Lorenz curve B. Phillips curve C. Engels curve D. Indifference curve

What does the graph point at the intersection of $2 per pound and 3,000 pounds of coffee show?

a. an equilibrium point
b. a shortage of quantity supplied
c. a deficit of quantity demanded
d. a surplus of quantity supplied