If the demand curve and the supply curve for a good are straight lines, then the deadweight loss that results from a tariff is represented on the supply-and-demand graph by
a. the area of one triangle.
b. the area of one rectangle.
c. the combined areas of two different triangles.
d. the combined areas of two different rectangles.
c
Economics
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Refer to Scenario 17.2. The highest level of y* that can be set and still have the high-productivity people choose to meet it is
A) 90. B) 60. C) 30. D) 22.5. E) 15.
Economics
If at the profit maximizing level of output, the AR curve lies below the ATC curve in the short run, the firm is earning positive economic profit
a. True b. False Indicate whether the statement is true or false
Economics