Deadweight loss-the supply of lettuce in the short run

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Reference no: EM131244561

1. Deadweight loss is

A. made up of a loss of only producer surplus.

B. not a social loss.

C. made up of a loss of both consumer surplus and producer surplus.

D. made up of a loss of only consumer surplus.

2. The supply of lettuce in the short run will be? ________ than the supply in the long run and? ________ than the supply today.

A. less? elastic; less elastic

B. more? elastic; more elastic

C. less? elastic; more elastic

D. more? elastic; less elastic

Reference no: EM131244561

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