Figure: Airline Industry
Refer to the figure.Suppose that airlines are regulated and prices are kept above the market level.According to the figure,the areas A and B represent,respectively,the:
A) deadweight loss and quality waste.
B) deadweight loss and consumer surplus.
C) quality waste and deadweight loss.
D) quality waste and consumer surplus.
Correct Answer:
Verified
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A)
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A) kept ticket prices
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