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Additional
deadweight loss
English Wikipedia - The Free Encyclopedia
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Deadweight loss
In
economics
, a
deadweight loss
(also known as
excess burden
or
allocative inefficiency
) is a loss of
economic efficiency
that can occur when equilibrium for a
good
or service is not achieved or is not achievable. Causes of deadweight loss can include
monopoly pricing
(in the case of
artificial scarcity
),
externalities
,
taxes or subsidies
, and binding
price ceilings
or
floors
(including
minimum wages
). The term deadweight loss may also be referred to as the "
excess burden
" of monopoly or
taxation
.
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