In this graph for positive externalities in consumption, the deadweight loss is caused by ______.
a. government intervention
b. defective products
c. overproduction
d. underproduction
d. underproduction
You might also like to view...
Which statement is true?
A. There was a great deal of stagflation in the 1960s. B. We had full employment for most of the 1980s. C. We have had twelve recessions since the beginning of 1945. D. None of the choices are true.
The three major components of a bond are the bond price, maturity date, and coupon rate.
Answer the following statement true (T) or false (F)
Let Kj and Lj denote the capital and labor inputs in the production of good j (j = S,T), then good S is said to be capital intensive relative to good T if
A) KS > KT. B) KS/LS > KT/LT. C) LS < LT. D) All of the above.
An industry would be likely to lay off workers following:
A. An increase in the price of the firm's product B. An increase in the marginal revenue product of labor C. The imposition of a new minimum wage below the current equilibrium wage D. A successful attempt by an industrial union to push wages above the marginal revenue product of labor