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QUESTION 23 Which of the following is not a reason why price controls create inefficiencies O a. They create losses as the goods are not necessarily allocated to the highest willingness to pay consumers (or lowest cost producers) b. They distort long-run decisions C. The cause people to incur evasion costs to get around the controls d. They transfer surplus from consumers to producers (or vice versa)

QUESTION 23 Which of the following is not a reason why price controls create inefficiencies O a. They create losses as the goods are not necessarily allocated to the highest willingness to pay consumers (or lowest cost producers) b. They distort long-run decisions C. The cause people to incur evasion costs to get around the controls d. They transfer surplus from consumers to producers (or vice versa)

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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What is the opportunity cost of fries for Patrick? O a. 3/4 b. 2 C. 1/2 Od. 1 QUESTION 23 Which of the following is not a reason why price controls create inefficiencies a. They create losses as the goods are not necessarily allocated to the highest willingness to pay consumers (or lowest cost producers) b. They distort long-run decisions c. The cause people to incur evasion costs to get around the controls d. They transfer surplus from consumers to producers (or vice versa) QUESTION 24 condin thamoalra ***imoeos0n feom 01 50 to 02 50 .hat in th
Transcribed Image Text:What is the opportunity cost of fries for Patrick? O a. 3/4 b. 2 C. 1/2 Od. 1 QUESTION 23 Which of the following is not a reason why price controls create inefficiencies a. They create losses as the goods are not necessarily allocated to the highest willingness to pay consumers (or lowest cost producers) b. They distort long-run decisions c. The cause people to incur evasion costs to get around the controls d. They transfer surplus from consumers to producers (or vice versa) QUESTION 24 condin thamoalra ***imoeos0n feom 01 50 to 02 50 .hat in th
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