If the market described in the accompanying diagram is dominated by a cartel,the loss in total surplus relative to perfectly competitive market conditions will be:
A) $500.
B) $1,000.
C) $2,000.
D) $3,000.
E) $4,000.

Question

If the market described in the accompanying diagram is dominated by a cartel,the loss in total surplus relative to perfectly competitive market conditions will be: 
A) $500. 
B) $1,000. 
C) $2,000. 
D) $3,000. 
E) $4,000.

Quizplus · Accepted Answer

The Answer of If the market described in the accompanying diagram is dominated by a cartel,the loss in total surplus relative to perfectly competitive market conditions will be: 
A) $500. 
B) $1,000. 
C) $2,000. 
D) $3,000. 
E) $4,000.

If the Market Described in the Accompanying Diagram Is Dominated