Which of the following is not a result of government price controls?
A) Some people win and some people lose.
B) A deadweight loss will occur.
C) Price controls benefit poor consumers but harm producers and wealthy consumers.
D) Price controls decrease economic efficiency.
C
Economics
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Refer to the figure above. Social surplus can be increased by ________
A) increasing output above 13 million units B) reducing output below 13 million units C) increasing the price above $22 D) charging a price of $22
Economics
Assuming demand is inelastic, if a firm wants to increase its total revenue, it should raise price
Indicate whether the statement is true or false
Economics