3 years ago

The social cost associated with the distortion in consumption from a monopoly price is called

1 answer:

4 0

This social cost is called deadweight loss or excess burden or allocative inefficiency. It is linked with the distortion in consumption resulting from monopolized pricing. Deadweight loss<span> is the descent in overall surplus that results from a market distortion, like tax for example. In economics, it is defined as a damage in economic efficiency that can happen when equilibrium for an amenity is not attained or is considered unachievable</span>

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