In 2014-2015, What Was the Median Fine for Violent Crimes

question 157

Multiple Choice

In 2014-2015, what was the median fine for violent crimes?

• A)$20
• B)$40
• C)$60
• D)$80

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Definitions:

Duopoly

A market structure where only two sellers compete directly against each other, offering similar goods or services.

Collude

When two or more entities, often companies, agree to work together secretly, especially in an illegal or deceitful way, to deceive, mislead, or defraud others of their legal rights, or to obtain an unfair advantage.

Profit

The financial gain realized when the revenue from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.

Kinked-demand Curve

A demand curve that has a distinct bend or kink, typically illustrating that a firm in an oligopoly will experience a different elasticity of demand for price increases compared to price decreases.