________ refers to the reduction in economic surplus resulting from not being in competitive equilibrium
A) Producer atrophy B) Deadweight loss C) Economic shortage D) Marginal cost
B
Economics
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Assume that the price for lawn care has fallen and sales of lawn care services have also fallen. One can conclude that
A) the demand for lawn care service has decreased. B) the law of supply has been violated. C) lawn care services are deliberately charging low prices because they want to discourage people from maintaining their own lawns. D) the number of lawn care service companies has increased.
Economics
A friend of yours receives a government voucher for an apartment in a public housing project. This apartment represents
A) a government-sponsored good. B) the free-rider problem. C) a public good. D) the drop-in-the-bucket problem.
Economics