If used cars are an inferior good and consumer income rises, then the demand for used cars will

• A) increase, and the price and equilibrium quality for used cars will increase.
• B) increase, and the price will decrease for used cars while the end equilibrium quantity for them will increase.
• C) decrease, and the price and equilibrium quantity for used cars will decrease
• D) decrease, and the price and equilibrium quantity for used cars will increase

There being "many buyers and sellers of the same good" is necessary but sufficient condition for a competitive market.

True or False

The demand curve for season tickets for the Toronto Maple leafs is the graphical representation of how any tickets consumers want to but at any given price.

True or False