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Author Question: Which of the following curves is not U-shaped? A) average variable cost curve B) average fixed ... (Read 150 times)

littleanan

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on: Jun 29, 2018
Which of the following curves is not U-shaped?
 
  A) average variable cost curve
  B) average fixed cost curve
  C) average total cost curve
  D) marginal cost curve

Question 2

Do rent ceilings result in any deadweight loss?
 
  What will be an ideal response?


mirabriestensky

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Yes. Because the number of apartments rented is decreased, some consumer surplus is lost and some producer surplus is lost. Part of these loses are gained by the tenants in the form of reduced rental payments. But the sum of the losses not gained by the tenants is the deadweight loss.


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littleanan

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Reply #2 on: Jun 29, 2018
Correct answers!


mirabriestensky

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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