In the above figure, if output were restricted to 300 million pounds of turkey, then
A) the marginal social benefit would exceed the marginal social cost on the last pound of turkey traded by $0.80.
B) there would be a deadweight loss of $40 million.
C) there would be inefficient underproduction of turkey.
D) All of the above answers are correct.
D
Economics
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The case of New Zealand, as described in the text, draws what simple conclusion regarding the country's international debt position?
What will be an ideal response?
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A deductible reduces ________ in exactly the same way as ________
A) moral hazard; coinsurance B) adverse selection; restrictive provisions C) moral hazard; cancellation of insurance D) adverse selection; limits on the amount of insurance
Economics