Question
Deadweight loss __________________________.
Markets allocate resources efficiently
Is ensured when a competitive market is in equilibrium
Occurs when there is a deviation from the competitive market equilibrium
Occurs when marginal benefits equal marginal costs
Markets allocate resources efficiently
Is ensured when a competitive market is in equilibrium
Occurs when there is a deviation from the competitive market equilibrium
Occurs when marginal benefits equal marginal costs
Answers
GPT-4o mini
Deadweight loss occurs when there is a deviation from the competitive market equilibrium.