Question
Frederick MacMillan innovated a type of this economic construct for reselling Alfred Marshall’s Principles of Economics, although that was later made illegal in the Dr. Miles case. Per the Shapiro-Stiglitz model, firms create one of these constructs in the labor market by paying workers a wage based on efficiency to prevent shirking. India’s agricultural MSPs are an example of these constructs, which transfer (*) consumer surplus to producer surplus but generate deadweight loss. On a graph of supply and demand, a binding one of these constructs is represented as a horizontal line above the equilibrium point, such as the minimum wage in a graph of labor. For 10 points, name these artificial minimum values for the cost of purchasing something. ■END■
Buzzes
Player | Team | Opponent | Buzz Position | Value |
---|---|---|---|---|
Will Alston | We jopping | Ill-Advised Buzz | 30 | -5 |
Mike Bentley | Why the Kremlin Hates Bananas | Khalil v Carbolic Shisha Ball Co | 92 | -5 |
Forrest Weintraub | You like geography? Name every Forrest. | bruh | 93 | 10 |
Dan Ni | TOAD | Statler and Waldorfesque Former Penn Bowl Editors | 103 | 10 |
Jason Golfinos | Ill-Advised Buzz | We jopping | 118 | 10 |
Tony Chen | Khalil v Carbolic Shisha Ball Co | Why the Kremlin Hates Bananas | 136 | 10 |