Answer Key, Econ 11, midterm #2

1 a

2 b

3 d

4 b

5 c

6 a

7 b

8 a

9 d

10 b

11 d

12 b

13 c

14 d

15 a

16 a (each person in line, except the last one, increases the congestion and imposes a longer

waiting time on others, without any gain, hence a deadweight loss)

17 d

18 b

19 d

20 b

21 d

22 a

23 b

24 d