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Author Question: The figure above shows the market for umbrellas in Sunville. Suppose one firm owns all umbrella ... (Read 47 times)

viki

  • Hero Member
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  • Posts: 525
on: Jun 29, 2018
The figure above shows the market for umbrellas in Sunville. Suppose one firm owns all umbrella stores in Sunville and charges 40 per umbrella. In this situation, the market for umbrellas is
 
  A) efficient, with no deadweight loss but also no surplus.
  B) inefficient, with a deadweight loss of 2,666.67.
  C) inefficient, with a deadweight loss of 1,333.33.
  D) efficient, generating a total surplus of more than 10,000.

Question 2

In 2006, real GDP in Belgium grew at a 3 percent rate and inflation was 1.8 percent while the population did not change. As a result, there was ________ demand for money curve in Belgium.
 
  A) a rightward shift of the
  B) a leftward shift of the
  C) a movement up along the
  D) no change in the


leahm14

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

C

Answer to Question 2

A


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