25. If an individual currently demands a particular good, it means that he or she:

a)Is willing and able to purchase the good at the current price.

b)Has a strong desire for the good.

c)Must need the good.

d)Prefers the good over all other choices.

30.Marginal cost

a) is the change in fixed cost divided by the change in quantity.

b) may initially decline and then increase as more output is produced.

c) may initially increase and then fall as more output is produced.

d) is fixed cost and variable cost added together and then divided by quantity.

31. As more output is produced, a firms production cost rises. This will affect the firm's _______decisions.

a) shutdown

b) production

c) demand

d) availability