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Specifically, a deadweight loss is the loss in efficiency that a society suffers as a result of firms setting their monopoly prices greater than marginal cost, P > MC. The deadweight loss is due to the loss in value to society of output not produced.
Specifically, a deadweight loss is the loss in efficiency that a society suffers as a result of firms setting their monopoly prices greater than marginal cost, P > MC. The deadweight loss is due to the loss in value to society of output not produced.
[[Category:Economics]]