Each point of a firm's supply curve represents a price-quantity pair where:

The study of the choices made by individual households, firms, and government is called

A) managerial economics. B) market economics. C) macroeconomics. D) microeconomics.

The current price of wheat is $10 per bushel, but the equilibrium price of wheat is $5 per bushel. As a result, a. the quantity supplied of wheat exceeds the quantity demanded of wheat at $10 per bushel. b. the equilibrium quantity of wheat exceeds the quantity demanded at the $10 price

c. there is a surplus of wheat at the $10 price. d. All of the above are correct.