The Figure Below Shows the Result of a Price Fixing

question 24

Multiple Choice

The figure below shows the result of a price fixing scheme that raised price above competitive levels at point C to a price of $15 at point M. By forming this price-fixing cartel,producers gained $__________ of producer surplus,while consumers lost $__________ of consumer surplus.

• A)$15,000; $10,000
• B)$15,000; $20,000
• C)$20,000; $10,000
• D)$20,000; $5,000

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Definitions:

Counterconditioning

A behavioral therapy technique that involves replacing an undesirable response to a stimulus with a more desirable one.

Self-Management

The ability of an individual to manage their own actions, emotions, and thoughts, aiming towards achieving personal goals and maintaining well-being.

Participation Rate

The proportion of eligible individuals who actually participate in a study, program, or activity, often used as an indicator of the level of engagement or interest.

Treatment Effectiveness

The degree to which a particular treatment or intervention achieves its intended outcome under usual or everyday conditions.