Refer to the figure above. The region ABC shows the ________ due ...

[james0929]

Refer to the figure above. The region ABC shows the ________ due to the price ceiling.
 
  A) gain in consumer surplus
  B) gain in producer surplus
  C) deadweight loss
  D) economic loss

Question 2

Henry David Thoreau faced a choice: Stay in the village of Concord or move out to Walden Pond. He decided to move to Walden. What was his opportunity cost?
 
  A) There was no opportunity cost if he didn't pay rent for his cabin on Walden Pond.
  B) The satisfaction he would have enjoyed were he to stay in Concord
  C) The sweat and toil of building his own cabin and living off the land at Walden Pond
  D) There was no opportunity cost, because he made a free and voluntary decision to live the way he preferred to live.

[huda]

Answer to Question 1

C

Answer to Question 2

B

[james0929]

YES! Correct, THANKS for helping me on my review

[smrtceo]

Thanks for the timely response, appreciate it