In an indifference curve/budget line diagram, generally when the ...

[hubes95]

In an indifference curve/budget line diagram, generally when the price of a good increases, the consumer purchases ________ of the good and moves to a ________ indifference curve.
 
  A) less; lower
  B) less; higher
  C) more; lower
  D) more; higher

Question 2

In a perfectly competitive market that is in long-run equilibrium, which of the following will NOT occur?
 
  A) Firms make only zero economic profit.
  B) Firms' owners earn a normal profit.
  C) The price equals the minimum average total cost.
  D) Entrepreneurs want to enter this industry.

[Anonymous]

Answer to Question 1

A

Answer to Question 2

D

[hubes95]

TYSM

[meganmoser117]

Thanks for the timely response, appreciate it