Author Question: Price floors and price ceilings A) always reduce total surplus. B) reduce consumer surplus and ... (Read 70 times)

altibaby · **on:** Jul 1, 2018

Price floors and price ceilings

A) always reduce total surplus.
B) reduce consumer surplus and increase producer surplus.
C) reduce producer surplus and increase consumer surplus.
D) Not enough information to determine.

Question 2

Monopolization of both the labor market and the output market results in

A) higher wages than when both are competitive.
B) a higher output price than when both are competitive.
C) a lower level of output than when both are competitive.
D) All of the above.