The Deadweight Loss Associated with Output Less Than the Competitive

question 28

Multiple Choice

The deadweight loss associated with output less than the competitive level can be determined by

• A) subtracting the competitive level producer surplus from the producer surplus associated with less output.
• B) subtracting the consumer surplus from the producer surplus associated with less output.
• C) summing the consumer and producer surplus associated with less output.
• D) summing the change in the total consumer and producer surplus from moving from the competitive level of output to less output.

---

Definitions:

M'Naghten Standard

A legal standard used to determine if a defendant was insane at the time of committing a crime, focusing on the ability to understand right from wrong.

Actus Reus

In Canadian criminal law, the prohibited physical act that, together with the mens rea, defines a criminal offence.

Mens Rea

In Canadian criminal law, the guilty mind or bad intent that, together with the actus reus, defines a criminal offence.