In the above figure, as output increases from 0 units to 10 units ...

[Yi-Chen]

In the above figure, as output increases from 0 units to 10 units to 20 units to 30 units, the deadweight loss
 
  A) falls.
  B) falls at first, then rises.
  C) rises.
  D) rises at first, then falls.

Question 2

In the short run, a perfectly competitive firm will shut down if
 
  A) it incurs any economic loss.
  B) price equals average cost.
  C) total revenue is less than total variable cost.
  D) total revenue is less than total fixed cost.

[nital]

Answer to Question 1

B

Answer to Question 2

C

[Yi-Chen]

Thanks for the timely response, appreciate it

[mcarey591]

YES! Correct, THANKS for helping me on my review