-The Above Figure Shows the Demand Curves in Four Different

question 127

Multiple Choice

-The above figure shows the demand curves in four different markets.If each of the markets has an identical upward sloping supply curve and the same tax is levied on suppliers,which market would produce the largest amount of deadweight loss?

• A) A
• B) B
• C) C
• D) D
• E) C and D

---

Definitions:

Photorespiration

The process that reduces the efficiency of photosynthesis in C3 plants during hot spells in summer; consumes oxygen and produces carbon dioxide through the degradation of Calvin cycle intermediates.

Rubisco

An enzyme that catalyzes the first step of carbon fixation in the process of photosynthesis.

Calvin Cycle

A biochemical process in plants, algae, and cyanobacteria which converts carbon dioxide and water into organic compounds, especially sugars, using ATP and NADPH produced in photosynthesis.

Glucose

An elementary sugar that is critical for energy production in living things and is included in a wide range of carbohydrates.