Refer to the table below for a certain product's market in Econland. If Econland were entirely closed to international trade, the equilibrium price and quantity would be:

Economics is primarily the study of:

A) the mental functions and behavior of individuals and groups. B) the state, nation, government, and politics and policies of governments. C) the problems related to existence and evolution of society. D) how agents choose to allocate scarce resources and how the choices affect society.

A pure monopoly is defined as having only one seller

a. True b. False Indicate whether the statement is true or false