a. the reduction in consumer expenditure resulting from market failure.
Deadweight loss is
a. the reduction in consumer expenditure resulting from market failure.
b. the reduction in sales revenue resulting from market distortions.
c. a measure of market equity.
d. the reduction in economic surplus resulting from a market not being in competitive equilibrium.
economic surplus is maximized when
a. the marginal benefit of consumption is equal to the marginal costs of production.
b. the marginal benefit of consumption is less than the marginal costs of production.
c. the marginal benefit of consumption is greater than the marginal costs of production.
Answers: 2
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Deadweight loss is
a. the reduction in consumer expenditure resulting from market failure.
a. the reduction in consumer expenditure resulting from market failure.
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