The above figure shows the U.S. market for 1 carat diamonds. Area C is the
A) decrease in consumer surplus due to the import quota.
B) importers' profit from the quota.
C) deadweight loss from the import quota.
D) increase in producer surplus due to the import quota.
E) gain in total surplus due to the import quota.
B
Economics
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A mixed economic system is best described as an economy with a mix of
A) state and federal governments. B) domestic and foreign buyers. C) free markets and government control. D) for-profit organizations and not-for-profit organizations.
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Vertical contracts generally run ______the goals of the customers
a. Indifferent to b. In line with c. Contrary to d. None of the above
Economics