The first English colonies in North America were established by:
a. Sir Humphrey Gilbert.
b. Christopher Columbus.
c. Capt. John Smith.
d. Sir Walter Raleigh.
d. Sir Walter Raleigh
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In a free-market economy, prices coordinate society's decisions about
a. how and for whom to produce. b. what, how, and for whom to produce. c. how and for whom to produce but not how much to produce. d. how much and for whom to produce but not how to produce.
The underlying reason why gasoline prices at neighboring stations are usually identical is that
A. these operators are usually friends and benefit from the other's presence. B. collusion is prevalent in the energy sector. C. because under oligopoly, it can be in each firms best interest to independently charge a price equal to their competition's price. D. collusion is legal in the energy sector.