In general, the deadweight loss associated with an import tariff ...

[Beheh]

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.

[swimkari]

Answer to Question 1

D

Answer to Question 2

D

[Beheh]

Thank you

[swimkari]

Happy to help you