Deadweight loss measures the loss in society's welfare that occurs because a monopolist does not produce the socially efficient level of output

Why is simply asking people how much they value a highway not a reliable way of measuring the benefits and costs?

a) Those who stand to lose have an incentive to exaggerate their true costs. b) Those who stand to gain have an incentive to tell the truth. c) Answers to the survey questions will always be downwardly biased. d) Not everyone asked will be using the highway.

Low voter turnouts that appear to be a result of voter apathy may instead be a result of

A) government intervention. B) special interest group activity. C) cost-benefit calculations. D) a and b E) a, b, and c