Refer to Figure 4-8. Suppose that instead of a rent ceiling, the government imposed a price floor of $2,000 per month for apartments. What is the value of the deadweight loss after the imposition of the price floor?
A) $50,000 B) $125,000 C) $175,000 D) $260,000
A
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Which of the following does not contribute to low farm productivity in poor nations?
A. Limited infrastructure. B. Lack of machinery. C. Inferior technology. D. Lack of effort.
If a hospital is experiencing economies of scale,:
a. it should reduce its output level to lower costs. b. its average cost curve is negatively sloped as output increases. c. prices are obviously too high. d. quality is falling as output is rising. e. its average cost curve is positively sloped as output increases.
A change in which of the following will shift the long-run aggregate supply curve?
A. Aggregate demand B. The price level C. Available resources D. Sales or excise taxes
Are sellers who practice arbitrage taking advantage of buyers?
What will be an ideal response?