True or False Homework Help: - If Smith prefers bananas over apples, and apples over peaches, his preferences are transitive if she prefers bananas over peaches. - An individual firm’s supply curve originates from its marginal cost curve. - If a firm’s average variable costs are higher than its output price, the firm will not shut down. - A market is in equilibrium when its supply and demand curves intersect.

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A: * SOLUTION :-

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A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first three…

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A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…