If the firm in the figure above is unregulated, the deadweight loss will be
A) zero.
B) $100.
C) $200.
D) $400.
C
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Which of the following statements is correct?
A. Low prices may not always be in the public interest. B. If prices on scarce resources are set “too low,” consumers will receive the “wrong” signals and be encouraged to consume more, thus squandering resources. C. Raising prices on scarce resources is generally politically unpopular. D. All of the responses are correct.
Public housing is an example of
A. Money income. B. In-kind income. C. Personal expenditure. D. Free goods.
Arrow's impossibility theorem is not relevant to modern analysis of political economy.
A. True B. False C. Uncertain
Many economists argue that the most efficient way to control pollution is to
A. ban all activities that create pollution. B. enforce legal standards on air and water quality. C. promote environmental awareness among citizens. D. impose taxes on emissions.