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. Answer Questions using this figure 
-The formation of this cartel caused a deadweight loss to society of $____________ of social surplus.
A) $5,000
B) $15,000
C) $20,000
D) $31,250
Correct Answer:
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Q34: _ is/are example(s) of market failure that
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