A rising price level decreases consumption by decreasing the real value of household wealth

Forgetting about the money that's irretrievably gone and instead focusing on the marginal costs and benefits of future options, is the lesson of which of the following?

A. Marginal utility B. Sunk costs C. Marginal analysis D. Budget constraints

Suppose Thelma and Louise both sell fried green tomatoes in a competitive price-taker market. If Louise increases her output,

a. Thelma must reduce output b. the price Thelma can charge falls c. the price Thelma can charge rises d. the price Thelma can charge is unaffected e. Thelma's profits must fall