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Author Question: Sammy has a drone that he values at 1,500. Frank values the same drone at 1,000. The government ... (Read 228 times)

daltonest1984

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on: Jun 29, 2018
Sammy has a drone that he values at 1,500. Frank values the same drone at 1,000. The government offers a subsidy of 800 to the buyers of drones, and Sammy and Frank agree on a price of 1,600. The subsidy creates a deadweight loss of
 
  A) 0
  B) 200
  C) 500.
  D) 800.

Question 2

A major principle of economics is that people respond to incentives.
 
  Indicate whether the statement is true or false


jojobee318

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

C

Answer to Question 2

TRUE


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daltonest1984

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Reply #2 on: Jun 29, 2018
Correct answers!


jojobee318

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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