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In a Competitive Market,the Demand and Supply Curves Are Q

Question 105

Multiple Choice

In a competitive market,the demand and supply curves are Q = 12 - P and Q = 5P,respectively.If output is fixed at Q = 11,what is the amount of the resulting deadweight loss?


A) 0
B) 0.6
C) 11.4
D) 15

Correct Answer:

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