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Author Question: In general, the deadweight loss associated with an import tariff or quota becomes relatively larger ... (Read 211 times)

Beheh

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on: Jul 1, 2018
In general, the deadweight loss associated with an import tariff or quota becomes relatively larger when:
 
  A) supply and demand are inelastic.
  B) supply is elastic and demand is inelastic.
  C) demand is elastic and supply is inelastic.
  D) supply and demand are elastic.

Question 2

If any of the assumptions of perfect competition are violated,
 
  A) supply-and-demand analysis cannot be used to study the industry.
  B) graphs with flat demand curves cannot be used to study the firm.
  C) graphs with downward-sloping demand curves cannot be used to study the firm.
  D) there may still be enough competition in the industry to make the model of perfect competition usable.
  E) one must use the monopoly model instead.


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swimkari

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

D


Beheh

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Reply #2 on: Jul 1, 2018
Thank you :)


swimkari

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Reply #3 on: Jul 1, 2018
Happy to help you


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