Use the table below to answer the following question.UnitsMaximum Willingness to PayMarket PriceMinimum Acceptable Price1$14$10$62121083101010481012561014641016At what level of output is productive efficiency achieved?
A. 3
B. 4
C. 5
D. 6
Answer: A
Economics
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The monopoly illustrated in the figure above is unregulated and charges a single price. The deadweight loss created by the monopoly is
A) $0. B) $22.50. C) $45.00. D) $90.00.
Economics
In the base year, the relationship between nominal and real GDP is
a. uncertain. b. one of equality. c. real GDP is higher. d. nominal GDP is higher.
Economics