Author Question: Middlemen have a comparative advantage in A) lowering transaction costs. B) raising transaction ... (Read 165 times)

james · **on:** Jun 29, 2018

Middlemen have a comparative advantage in

A) lowering transaction costs.
B) raising transaction costs.
C) robbery and theft.
D) tax evasion.
E) buying products at a high price and selling them at a lower price.

Question 2

The above figure shows the U.S. market for 1 carat diamonds. Area A is the

A) increase in producer surplus due to the import quota.
B) importers' profit from the import quota.
C) decrease in consumer surplus due to the import quota.
D) deadweight loss from the import quota.
E) gain in total surplus due to the import quota.

Ptupou85 · **Reply #1 on:** Jun 29, 2018

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