In the figure above, when the market is unregulated and in equilibrium, the deadweight loss is ________ thousand per month

What makes a model compelling?

a. its predictions b. its mathematical structure c. its assumptions d. its simplicity

Many people sell goods through eBay at prices that are higher than the prices they paid for these goods. Economists consider these transactions as

A) examples of exploitation of buyers of the goods by the sellers. B) examples of arbitrage. C) unproductive since the goods sold have been produced in the past. D) examples of zero-sum games, since the value of the goods sold is exactly equal to the prices paid for them.