Author Question: In the above figure, as output increases from 0 units to 10 units to 20 units to 30 units, the ... (Read 109 times)

Yi-Chen · **on:** Jun 29, 2018

In the above figure, as output increases from 0 units to 10 units to 20 units to 30 units, the deadweight loss

A) falls.
B) falls at first, then rises.
C) rises.
D) rises at first, then falls.

Question 2

In the short run, a perfectly competitive firm will shut down if

A) it incurs any economic loss.
B) price equals average cost.
C) total revenue is less than total variable cost.
D) total revenue is less than total fixed cost.