Related to the Economics in Practice on P

question 58

Multiple Choice

Related to the Economics in Practice on p. 294: In the price-fixing case against the Taiwanese firm AU Optronics, the DOJ claimed that the price fixing resulted in ________ paying more for products with LCD screens.

• A) consumers
• B) businesses
• C) government agencies
• D) All of the above are correct.

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Definitions:

Principals

The main parties involved in a financial transaction or agreement, often referring to the owners or significant stakeholders.

Gross Cost

The total cost of a product or service before any deductions, discounts, or allowances are applied; the raw cost of an item.

Commission

A fee paid to an agent or employee for transacting a piece of business or performing a service, especially a percentage of the money received from a total paid to the agent responsible for the business.

Principals

The original amount of money invested or loaned, on which basis interest and returns are calculated.