Use the Following Statements to Answer This Question: I

Multiple Choice

Use the following statements to answer this question: I. When the market price is held above the competitive price level, it is possible for the loss in consumer surplus to be fully captured by producers.
II) When the market price is held above the competitive level, there is no deadweight loss because producer gains exactly equal consumer losses.

A) I and II are true.
B) I is true and II is false.
C) II is true and I is false.
D) I and II are false.