In the figure above, if the market is unregulated,
A) more than the efficient amount of output will be produced.
B) less than the efficient amount of output will be produced.
C) the allocation of resources will be efficient because the efficient amount of output will be produced.
D) the deadweight loss will be zero.
Question 2
In the above figure, if the market was a single-price monopoly rather than perfectly competitive, which area shows the transfer of consumer surplus from consumers to producers?
A) A + B
B) C + D
C) C + D + E
D) E + H
The illusory bands visible in this figure are often called Mach bands, although Mach used a ...
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