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If a supply curve goes through the point P = $10 and Qs = 320, then
a. $10 is the highest price that will induce firms to supply 320 units
b. $10 is the lowest price that will induce firms to supply 320 units
c. at a price higher than $10 there will be a surplus
d. at a price lower than $10 there will be a shortage
If the indifference curves are straight lines with slope s, and the budget constraint is given by: x*p1+y*p2 = m, then describe the optimal choice of the consumer.
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