Use the Information Below to Answer the Following Questions

question 25

Multiple Choice

Use the information below to answer the following questions.
Fact 13.3.1 What the Apple-Samsung Verdict Means for Your Smartphone
A California jury found Samsung guilty of violating the majority of the patents in question, including software features like double-tap zooming and scrolling. It recommended that Apple be awarded more than $1 billion in damages. This verdict could significantly affect both smartphone users and producers.
Source: CNN Money, August 26, 2012
-Refer to Fact 13.3.1. Suppose the smartphone market becomes perfectly competitive. Choose the statement that is incorrect when we compare the perfectly competitive market to a monopoly.

• A)Society gains.
• B)Producers of smartphones gain.
• C)Consumers of smartphones gain.
• D)Total surplus increases.
• E)Deadweight loss is eliminated.

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Definitions:

Governmental Organization

An entity that is part of the public sector, established by the government to perform specific functions or services.

Sales Proposals

Detailed documents designed to offer services or products to potential clients, outlining the benefits, costs, and terms of a potential sale.

Buyer's Requirements

Specific criteria and preferences outlined by a buyer that a product, service, or supplier must meet in order to be considered for purchase.

Technical Terminology

Specialized language used within a specific field or industry.