Which of the following is not an explicit cost?

Which of the following is a possible result of adverse selection?

a. Only lemons remain in the market for used cars. b. A store manager shirks his responsibility because his supervisor is not present at all times. c. A car mechanic does not bother to properly fix the customers' cars when his work cannot be monitored. d. Many people selling their houses at very low prices expecting prices to decline further.

Consider a market with a price ceiling. If the price ceiling is lowered which of the following would happen?

a. The consumer surplus would increase, the producer surplus would decrease and the dead weight loss would decrease b. The consumer surplus would increase, the producer surplus would decrease and the dead weight loss would increase c. The consumer surplus, the producer surplus and the dead weight loss would all decrease d. The consumer surplus, the producer surplus and the dead weight loss would all increase e. The consumer surplus would decrease, the producer surplus would increase and the dead weight loss would increase