A deadweight loss occurs in a
A) monopoly.
B) perfectly competitive market.
C) market in which the market clearing price of a good equals the marginal cost of producing it.
D) market in which the market clearing price of a good is below the marginal cost of producing it.
A
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Suppose there are ten firms that occupy the Odell, Oregon cherry pie market. The market share of each firm is listed in the above table
a) What is the four-firm concentration ratio in this market? b) What is the Herfindahl-Hirschman Index for this market? c) If Firm H and Firm A merge, what is the new Herfindahl-Hirschman Index for this market? d) A severe winter causes every firm except A, B, and E to close. With only these three firms operating, Firm A's market share is 71 percent, Firm B's market share is 23 percent, and Firm C's market share is 6 percent. What is the Herfindahl-Hirschman Index for this market now?
If a country runs a deficit in its current account, it is because
a. exports exceed imports b. imports exceed exports c. net unilateral transfers are negative d. foreign currency received from exports and transfers exceeds the foreign exchange needed to pay for imports and to make unilateral transfers e. foreign currency received from exports and transfers is less than the foreign exchange needed to pay for imports and to make unilateral transfers