The deadweight loss incurred when the market in the above figure is a single-price monopoly rather than perfectly competitive is the area
A) cab.
B) fcd.
C) bed.
D) fae.
D
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In 2009, our goods and services trade deficit was almost $______ billion.
A. 300 B. 400 C. 500 D. 600
When a person's income decreases, the slope of the individual's budget constraint stays the same because:
A. everything is relatively more expensive now. B. everything is relatively less expensive now. C. the relative prices of the goods haven't changed. D. the prices of the goods change in the same proportion.
How does the leader's behavior in the quantity-leadership (Stackelberg) game compare to that in the analogous price-leadership game?
a. It behaves as a "puppy dog" in both. b. It behaves as a "top dog" in the quantity leadership game but a "puppy dog" in the price leadership game. c. It behaves as a "top dog" in the quantity leadership game but a "puppy dog" in the price leadership game. d. It behaves as a "top dog" in both.
The marginal tax rate is the total tax paid divided by the amount of taxable income
a. True b. False Indicate whether the statement is true or false