If the quantity demanded exceeds the quantity supplied in a market, then the result is which of the ...

If the quantity demanded exceeds the quantity supplied in a market, then the result is which of the following?
 a. Deadweight loss b. Inefficiency
  c. Underproduction d. Each of these are true.

QUESTION 2

If the quantity supplied exceeds the quantity demanded in a market, then the result is which of the following?
 a. Deadweight loss b. Inefficiency
  c. Overproduction d. Each of these are true.

QUESTION 3

At the equilibrium price, deadweight loss is:
 a. minimized.
  b. zero.
  c. maximized.
  d. equal to the equilibrium price multiplied by the quantity exchanged.

QUESTION 4

Deadweight loss is not the result of:
 a. an efficient market. b. an inefficient market.
  c. zero consumer surplus. d. zero producer surplus.

QUESTION 5

Deadweight loss is the net loss of:
 a. consumer surplus. b. producer surplus.
  c. disequilibrium surplus. d. both a and b.

QUESTION 6

Deadweight loss is the result of:
 a. disequilibrium. b. underproduction.
  c. overproduction. d. all of these are correct.

QUESTION 7

Which of the following statements is correct?
 a. Total surplus is the sum of consumer and producer surplus.
  b. Deadweight loss is the net loss of both consumer and producer surplus resulting from underproduction or overproduction of a product.
  c. Deadweight loss is a measure of market inefficiency.
  d. All of these.

QUESTION 8

Total surplus equals:
 a. consumer surplus + producer surplus  deadweight loss.
  b. consumer surplus  producer surplus  deadweight loss.
  c. consumer surplus  producer surplus + deadweight loss.
  d. consumer surplus + producer surplus.