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Author Question: Refer to Figure 9.2. At price 0E and quantity Q, the deadweight loss is A) 0ACQ. B) 0ECQ. C) ... (Read 94 times)

mikaylakyoung

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on: Jul 1, 2018
Refer to Figure 9.2. At price 0E and quantity Q, the deadweight loss is
 
  A) 0ACQ.
  B) 0ECQ.
  C) 0FCQ.
  D) EFC.
  E) none of the above

Question 2

Pedro buys market basket A that includes 10 books at a price of 20 per book and 10 DVDs at a price of 10 per DVD. Market basket B contains 12 books and 12 DVDs. Based on this information, which of the following statements is NOT true?
 
  A) Revealed preference analysis implies that Pedro only prefers basket B to basket A if basket A is more expensive.
  B) Pedro prefers market basket B to basket A.
  C) Market basket B will cost more than basket A.
  D) If the prices change and Pedro chooses market basket C, which now costs the same as basket B, then basket C is prefer to basket A.


Anonymous

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Reply #1 on: Jul 1, 2018
Answer to Question 1

E

Answer to Question 2

A


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