An economic principle that explains why people pursue different occupations is

If a firm experiences increasing returns to scale at all levels of output: a. the slope of its long-run total cost curve is everywhere negative

b. the slope of its short-run average cost curve is everywhere negative. c. the slope of its long-run average total cost curve is everywhere negative. d. the slope of its production function is everywhere negative.

If the quantity demanded of a good is greater than the quantity supplied of the good at the current price, then

A. The demand curve will shift to the left to create equilibrium. B. The supply curve will shift to the right to create equilibrium. C. There is a surplus of the good. D. Price will increase until it reaches the equilibrium price.