If equilibrium is achieved in a competitive market
A) there is no deadweight loss.
B) the deadweight loss will equal the sum of consumer surplus and producer surplus.
C) the deadweight loss will be the same as the opportunity cost of the last unit of output sold.
D) the deadweight loss will be maximized.
A
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a. only in the case of housing-related tax preferences b. when itemizing deductions c. when taking the standard deduction d. for high-income taxpayers
What is common property? What does common property have to do with externalities?
What will be an ideal response?
What is the percentage of income received by the upper two quintiles on line K?
Refer to the information provided in Table 3.1 below to answer the question(s) that follow. Table 3.1Price per PizzaQuantity Demanded (Pizzas per Month)Quantity Supplied (Pizzas per Month)$31,200 600 61,000 700 9 800 80012 600 90015 4001,000Refer to Table 3.1. If the price per pizza is $9, the price will
A. remain constant because the market is in equilibrium. B. decrease because there is an excess supply in the market. C. increase because there is an excess supply in the market. D. increase because there is an excess demand in the market.