If the actual economic surplus in the market represented by the graph is $3,075, the deadweight loss will be $975.
The cost of market inefficiency, which happens when both supply and demand are not in balance, is known as a deadweight loss. A deadweight loss, a term mostly used in economics, refers to any deficit brought on by an ineffective resource allocation.
These elements cause goods to be overvalued or undervalued because the price of a product is not adequately reflected.
Deadweight losses may result from price floors, such as basic wage and living wage regulations, price ceilings like cost controls and rent restrictions, and taxation. A society's resource distribution could also become inefficient with a decline in commerce.
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