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Author Question: Which of the following statements most accurately describes the concept of deadweight loss? (Read 27 times)

Rafic Kaaki

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on: Oct 12, 2022

Question 1

Consider a competitive labour market. The likely consequence of a binding minimum wage in this labour market is
◦ a higher wage for all individuals.
◦ a labour shortage.
◦ excess demand for workers.
◦ unemployment.
◦ a lower wage for all individuals.

Question 2

Which of the following statements most accurately describes the concept of deadweight loss?
◦ the overall loss of economic surplus that occurs when a market is inefficient
◦ the total market value of the goods no longer produced when quantity exchanged is below the equilibrium quantity
◦ the loss of consumption that occurs when a binding price floor or ceiling is imposed
◦ the loss of production that occurs when a binding price floor or ceiling is imposed
◦ the loss of economic surplus to consumers
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Rafic Kaaki on Oct 12, 2022

marufp

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Rafic Kaaki

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

amandalm

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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