Deadweight Loss is defined as
A)the loss to society that results from production being too high or too low.
B)the loss to society that results from incomes being too high or too low.
C)the loss to society that results from items costing more than some can afford.
D)none of these

Question

Quizplus · Accepted Answer

Deadweight Loss specifically refers to the inefficiency in the market that results in the loss of potential social welfare from production being either too high or too low. It does not refer to income levels or affordability of items.

Deadweight Loss Is Defined as