In the above figure, of the quantities listed below, for which is the total deadweight loss the largest?
A) 0 units
B) 10 units
C) 20 units
D) 30 units
A
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There are two can companies, American and National, which have entered into a collusive agreement. The payoff matrix of economic profits is above. If both firms cheat on the collusive agreement, what amount of economic profit is made by American?
A) $0 B) $3,000 C) $4,000 D) -$2,000
What is the key proposition of new growth theory that makes economic growth persist?
What will be an ideal response?
What is pure rent?
What will be an ideal response?
Which of the following is NOT one of the reasons for declining union membership in the United States?
A) The economy has shifted away from manufacturing. B) The AFL-CIO merger and creation of the Change to Win Federation reduced competition among unions. C) Some industries have been deregulated. D) Labor force participation by women has increased.