Suppose the demand for beef increases and at the same time the cost of raising cattle increases as well, what would we expect to happen in the market for beef

a.

Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous.

b.

Equilibrium price would increase, but the impact on equilibrium quantity would be ambiguous.

c.

Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.

d.

Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.

At the minimum efficient scale of production,

a.

AC = MC

b.

AC < MC

c.

AC > MC

d.

MR = MC