The figure above shows the market for college education in the United States. If the government does not intervene in this market, the deadweight loss equals ________ per year

If a profit-maximizing firm finds that price exceeds average variable cost and marginal cost is greater than marginal revenue, it should: a. reduce output, but continue producing in the short run. b. increase output

c. shut down. d. not alter its production level since it is earning a profit.

In the United States, a "buy American" act was passed in 1933 to create larger markets for domestic goods

a. True b. False Indicate whether the statement is true or false