Higher gasoline prices would likely raise the price of large, gas-guzzling automobiles

The social interest theory of regulation assumes that

A) regulations favor voters over producers. B) regulations promote the attainment of competitive output. C) public officials seek to keep their jobs. D) public officials favor consumers over producers.

Refer to the above figure. Point B is known as

A) a peak. B) a recession. C) an expansion. D) a contraction.