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Candace Can you explain what you mean by deadweight loss? Tina Absolutely. Deadweight loss is the overall loss in consumer and producer surplus in the

Candace

Can you explain what you mean by deadweight loss?

Tina

Absolutely. Deadweight loss is the overall loss in consumer and producer surplus in the market. It typically occurs when the market cannot achieve the most efficient equilibrium price and quantity.

Candace

,

then yes! The price ceiling caused a deadweight loss in our market.

Tina

Can you tell us the dollar amount of the deadweight loss?

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