Reference: Ref 8-7 (Figure: Losses from Price Ceilings) Refer to the figure. At a price ceiling of $1, the area representing the total value of wasted time is ________, and the area of the deadweight loss is ________.
A) ab; de
B) bd; ce
C) abdf; ce
D) bc; de

Question

Reference: Ref 8-7 (Figure: Losses from Price Ceilings) Refer to the figure. At a price ceiling of $1, the area representing the total value of wasted time is ________, and the area of the deadweight loss is ________.
A) ab; de 
B) bd; ce 
C) abdf; ce 
D) bc; de

Quizplus · Accepted Answer

The Answer of  Reference: Ref 8-7 (Figure: Losses from Price Ceilings) Refer to the figure. At a price ceiling of $1, the area representing the total value of wasted time is ________, and the area of the deadweight loss is ________.
A) ab; de 
B) bd; ce 
C) abdf; ce 
D) bc; de

Reference: Ref 8-7 (Figure: Losses from Price Ceilings) Refer to the Figure