The deadweight loss represent the sum of added consumer and producer surplus if the firm would produce the quantity where P = MC
Indicate whether the statement is true or false
True . If P = MC is produced quantity increases and the deadweight loss is turned into CS and PS. This will increase total welfare.
Economics
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Based on the information in Scenario 1, nominal GDP in 2015 in this economy was
A) $830. B) $1,025. C) $1,090. D) $1,345.
Economics
All of the following took place during the Great Depression EXCEPT
A) an increase in unemployment from about 3.4 percent to about 25 percent and a decrease in real GDP by about 30 percent between 1929 in 1933. B) an increase in taxes because of the fear that budget deficits would undermine business confidence. C) a fall in the money supply by more than 30 percent. D) a rise in inflation during the early 1930s.
Economics