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One of the problems in a competitive market environment is deadweight losses. What are deadweight losses, and what are their causes? What are the market

One of the problems in a competitive market environment is deadweight losses.

  • What are deadweight losses, and what are their causes?
  • What are the market effects of a deadweight loss?
  • What are the major factors that determine who will bear the burden of a tax or the incidence of a tax?

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