Consider the Following Demand and Supply Schedules for Some Agricultural

question 48

Multiple Choice

Consider the following demand and supply schedules for some agricultural commodity.
TABLE 5-2
-Refer to Table 5-2.Consider the market-clearing equilibrium.If the government then imposes a production quota of 500 units,the deadweight loss that is created is equal to

• A)$1000.
• B)$2000.
• C)$3000.
• D)$4000.
• E)$5000.

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