A deadweight loss:
A. can be large in a perfectly competitive market.
B. is a reduction in aggregate surplus below its maximum possible value.
C. is independent the amount produced and consumed.
D. is equal to the difference between total willingness to pay and the total avoidable cost of production.
B. is a reduction in aggregate surplus below its maximum possible value.
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What will be an ideal response?
Angie's list now provides a rating service for physicians. This type of information can potentially help consumers in which stage of the consumer decision making process?
External search Post purchase evaluation Problem recognition Internal search
Which of the following statements about venture capital firms is FALSE?
A. Most start-up companies that acquire venture capital eventually turn out to be successes. B. Venture capital firms invest in high-risk, high-potential firms. C. Venture capital firms get most of their capital from pension funds, large university endowments, and other institutions that can take substantial risks with a small portion of their funds. D. Companies that acquire their funds from venture capital firms may initially have trouble acquiring capital from other channels.
Nations specialize in production and engage in international trade in order to:
A. Protect domestic consumers and producers B. Increase output and income C. Improve transportation D. Increase employment