A ban on imports, a tariff, or a quota raise the price to domestic consumers creates a deadweight loss. This loss is composed of
A) production associated loss and inefficiency loss.
B) productive consumption loss and protection loss.
C) consumption distortion loss and production distortion loss.
D) consumer misperception loss and taxation loss.
C
Economics
You might also like to view...
Consider a manufacturing operation that uses specialized machinery and labor to produce its output. In this case, the input that is not fixed in the short run is labor
Indicate whether the statement is true or false
Economics
In a given community, if the government builds more freeways, then the supply curve for freeway space shifts rightward and the demand curve for freeway space shifts leftward
Indicate whether the statement is true or false
Economics