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Economics

Explain about the deadweight loss and elasticities.

Deadweight Loss and Elasticities:

The common rule for economic policy is the other things equal; you need to select the policy which produces the smallest deadweight losses. But how we can be forecast the size of the deadweight loss related with a specified policy.

For a tax imposed while demand or supply, or both, is inelastic will origin a relatively small reduce in quantity transacted and a small deadweight loss.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9581654

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