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. at a price higher than $10 there will be a surplus.
C. at a price lower than $10 there will be a shortage.
D. $10 is the lowest price that will induce firms to supply 320 units.
E. both c and d
Answer: D
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