What happened in Vernon Smith’s lab? Choose the right answer:
a. The price and quantity were close to equilibrium but gains from trade were far from the maximum.
b. The price and quantity were far from equilibrium and gains from trade were far from the maximum.
c. The price and quantity were far from equilibrium but gains from trade were close to the maximum.
d. The price and quantity were close to equilibrium and gains from trade were close to the maximum.