The size of a deadweight loss in a market is reduced by
A) market price being close to marginal cost. B) government legislating a ceiling price.
C) government legislating a price floor. D) creative destruction.
A
Economics
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If you buy a DVD player produced in Japan, a
A) good was exported by Japan and imported by the United States. B) good was imported by Japan and by the United States. C) service was imported by Japan and exported by the United States. D) service was exported by Japan and imported by the United States. E) good was exported by Japan and by the United States.
Economics
If monopolistically competitive firms have some control over their prices, why don’t they set price above average total cost so they will realize an economic profit in the long run?
What will be an ideal response?
Economics