Exhibit 3A-2 Comparison of Market Efficiency and Deadweight Loss
As shown in Exhibit 3A-2, if the quantity supplied of good X per year is Q1, the result is a deadweight loss represented by area:

As a percentage of total expenditures, spending on highways has _____ since 1970 . Spending on interest payments has _____ over the same time span

a. increased; increased b. decreased; decreased c. increased; decreased d. decreased; increased

The monopolistic competition market structure is characterized by:

A. few firms and similar products. B. many firms and differentiated products. C. many firms and a homogeneous product. D. few firms and a homogeneous product.