The tables above show the marginal costs and benefits from production of paper. If the market is perfectly competitive and unregulated, the equilibrium price is ________ per ton

All quasilinear goods are necessities.

Answer the following statement true (T) or false (F)

As the housing bubble collapsed, the cycle of defaults and falling prices began that would ultimately cause home values to:

A. fall by more than 90 percent in the hardest-hit areas. B. stop rising, practically halting the mortgage loan industry for a number of years. C. fall by more than 50 percent in the hardest-hit areas. D. fall by about 25 percent in the hardest-hit areas.