A group of firms that has entered into a collusive agreement to restrict output and increase prices and profits is called

Refer to the figure above. What is the producer surplus in the market?

A) $20 B) $40 C) $60 D) $80

Refer to Table 16-2. How many tubes of toothpaste will Neem sell in Middle Fall and at what price?

A) Q = 4 units; P = $5 B) Q = 2 units; P = $7 C) Q = 3 units; P = $6 D) Q = 5 units; P = $4