Three Witnesses Observe a Crime That Takes Place in a Very

question 15

Multiple Choice

Three witnesses observe a crime that takes place in a very short amount of time. Paris and Lindsay are both suspects. The first two witnesses indicate that it was Paris who committed the crime. The third witness is most likely to conform with the other two if

• A) she stands to receive a reward if it turns out that Paris did commit the crime.
• B) it is a very minor crime.
• C) she is the first person to be asked to identify the culprit.
• D) she is shown a videotape of the crime that happens to be available.

---

Definitions:

Diamonds

Precious stones consisting of a clear and typically colorless crystalline form of pure carbon, often used in jewelry.

Price-Taking Firm

A price-taking firm is a company that must accept the market price for its product, having no influence on the price due to its small size relative to the industry.

Market Power

The ability of a firm to control the price and output of products in its market, often due to limited competition.

Government-Set Barriers

Regulations and policies established by governments to control the entry of firms into certain markets or to protect domestic industries from foreign competition.