The figure given below shows a situation where the producers of good X are forming an international cartel. Here, MR = Marginal Revenue, MC = Marginal Cost, and P = Price. The cartel use monopoly pricing for its output. Price ( dollars per unit ) 0 300 500 600 1,000 1,500 MC curve of cartel (= supply curve if there is perfect competition) Demand MR Quantity (Millions of units ) 100 150 H ow much well-being would world lose as a result of the formation of the cartel? a. $ 5 .0 billion b. $1 2.5 billion c. $15 .0 billion d. $ 5 0 .0 billion