Figure 2-4
Which production possibilities frontier(s) in depict(s) a situation in which all resources are perfect substitutes in production?
a.
both C and E
b.
both D and E
c.
C
d.
D
e.
E
d
Economics
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The size of a deadweight loss in a market is reduced by
A) government legislating a ceiling price. B) government legislating a price floor. C) market price being close to marginal cost. D) creative destruction.
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