In the above figure, suppose that the government sets a limit that may be produced of 10 units of output and the price rises to $4. The total deadweight loss would be
A) $0.
B) $10.
C) $15.
D) $20.
B
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Betty and Veronica are playing Odds or Evens, where Betty is designated as the "odd" player and Veronica is designated as the "even" player. They decide to play the game 10 times
If Betty adopts a pure strategy of "shoot 1," what strategy should Veronica adopt to maximize her payoff?
The difference between producer surplus and profit is always the associated with
A) opportunity costs. B) total costs. C) variable costs. D) fixed costs.
Perfect price discrimination is
A) realistic. B) practiced by many firms. C) a purely theoretical possibility. D) very common.
_______________ is the practice of hiring people in other countries to do a job that was once done domestically
A) Offshoring B) Onshoring C) Insourcing D) Megasourcing