Higher indifference curves represent a greater level of utility than lower ones

In the figure above, the deadweight loss is

A) $4,000 an hour. B) $2,000 an hour. C) $1,000 an hour. D) $5,000 an hour. E) zero.

Most college courses have a required textbook. Previously, textbooks were only available through the campus bookstore, but now, these texts can be purchased from online retailers, other bookstores, or students can buy an electronic version of the

text. Because of this, we can predict the price elasticity of demand for textbooks from the campus bookstore is ________. A) increasing B) decreasing C) staying the same D) increasing and then decreasing