1. Deadweight loss is
A. made up of a loss of only producer surplus.
B. not a social loss.
C. made up of a loss of both consumer surplus and producer surplus.
D. made up of a loss of only consumer surplus.
2. The supply of lettuce in the short run will be? ________ than the supply in the long run and? ________ than the supply today.
A. less? elastic; less elastic
B. more? elastic; more elastic
C. less? elastic; more elastic
D. more? elastic; less elastic