Refer to the graph shown.
If suppliers can reduce output from M to L, consumer surplus is reduced by area(s):
A. A, B, and D.
B. B and D.
C. A and B.
D. A.
Answer: B
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Distinguish between real GDP and potential GDP and describe how each grows over time
What will be an ideal response?
In 1935, the U.S. Patent and Trademark Office issued Parker Brothers a trademark on the
use of the name Monopoly for a board game. Hasbro bought Parker Brothers in 1991. Which of the following statements is true regarding the trademark on the name Monopoly for a board game? A) The trademark expired in 1955, 20 years after the trademark was issued to Parker Brothers. B) The original trademark expired well before Hasbro bought Parker Brothers, so they never had a trademark on Monopoly. C) Trademarks never expire, so Hasbro continues to have a trademark on the name Monopoly. D) The trademark expired in 2011, 20 years after Hasbro's purchase of Parker Brothers.
If an asset has a 0.7 probability of yielding 10 percent and a 0.3 probability of yielding 20 percent, the expected yield of the asset is
A) 30 percent. B) 20 percent. C) 13 percent. D) 10 percent.
Critics of price regulation suggest that some firms
A. will lack the incentive to run their business efficiently. B. will underestimate their costs and lead to bankruptcy. C. will sue the federal government for damages. D. will set their price equal to marginal cost instead of average cost.