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Explain the concept of deadweight loss and give an example of a deadweight loss. Do you think policy markers pay too much or too little

Explain the concept of deadweight loss and give an example of a deadweight loss. Do you think policy markers pay too much or too little attention todeadweight loss when they implement new taxation? Lastly, do you support increasing taxes on the wealthiest wage earners in the United States as a way to reduce income inequality even if it caused a larger deadweight loss? Explain your rationale.

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