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Which of the following statements most accurately describes the concept of deadweight loss? A) the loss of production that occurs when a binding price floor

Which of the following statements most accurately describes the concept of deadweight loss?

A) the loss of production that occurs when a binding price floor or ceiling is imposed

B) the overall loss of economic surplus that occurs when a market is inefficient

C) the loss of consumption that occurs when a binding price floor or ceiling is imposed

D) the loss of economic surplus to consumers

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