The above figure shows the market for DVDs. The government decides that all citizens deserve to watch affordable DVDs so a price ceiling of $12 per DVD is placed on DVDs. After this price ceiling is in effect, deadweight loss equals ________
A) $1,600,000
B) $200,000
C) $800,000
D) $1,800,000
E) $400,000
C
Economics
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The impact of a strike is limited to the ability of the union to
A) prevent replacement workers from continuing their work. B) lower its wage demands of non-union members. C) control the pension fund. D) none of the above.
Economics
Approximately what percentage of American consumers' total spending is on food?
A. Less than 15 percent B. 20-25 percent C. About 30 percent D. More than 40 percent
Economics