-In the Above Figure, If Output Were Restricted to 300

question 128

Multiple Choice

-In the above figure, if output were restricted to 300 million pounds of turkey, then

• A) the marginal social benefit would exceed the marginal social cost on the last pound of turkey traded by $0.80.
• B) there would be a deadweight loss of $40 million.
• C) there would be inefficient underproduction of turkey.
• D) All of the above answers are correct.

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