Using the labels on the graph below, the total cost for both firms at the cost-effective solution is ________, and the excess cost from using the uniform standard is___________
a. ABCGH; CGH b. ACH; CGH c. ACDEH; CDE d. ACH; CDE
d. ACH; CDE
Economics
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Suppose that the market for product X is characterized by a typical, downward-sloping, linear demand curve and a typical, upward-sloping, linear supply curve. If a $2 tax per unit results in a deadweight loss of $200, how large would be the deadweight loss from a $6 tax per unit?
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A. 1,000 B. 5,000 C. 10,000 D. 100,000
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