A price equal to the free market equilibrium price is efficient because the willingness to pay by someone to consume an additional unit ________ the marginal cost to someone for producing that unit.

Refer to Table 4-14. The equations above describe the demand and supply for Pauline's Pickled Pomegranates. What are the equilibrium price and quantity (in thousands) for Pauline's Pickled Pomegranates?

A) $15 and 45 thousand B) $30 and 15 thousand C) $60 and 20 thousand D) $20 and 10 thousand

Collusion of firms is legal in the United States

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