Economy is the backbone of any nation, both developing and developed. Sustainable growth of any nation is impossible without its economy. The field of study for the economy is Economics. A prominent term in Economics is Dead weight loss.
It is defined as the damage of economic competence, which could be attributed to various reasons such as taxation or subsidy, monopolistic pricing, externalities, and price ceilings and floors. It is also called Excess Burden or Allocative Inefficiency.
A possible cause of dead weight loss could be when a company whoâ€™s having a monopoly on its products decides to charge unrealistically. Another example of dead weight loss could be when the government decides to tax or subsidize certain products of the same category, which would impact the demand of the other products.
It could also be attributed to when the government fails to intervene with externalities- when the cost or profit of any party is affected without its intent.
How to calculate Dead weight loss?
A dead weight loss is caused to the society when the market is inefficient. The prime cause of a dead weight loss is when the supply and demand of a product is affected by the manipulation in pricing.
It is the instability in the equilibrium between demand and supply. It is calculated by the change in price and the change in quantity demanded.
A brief explanation of the causes of Dead weight Loss:
A monopolistic producer is capable of adjusting the price as per his/her choice, owing the absence of real competition. This would dissatisfy the consumers and lead to a change in demand.
A subsidy is the reduction in consumer and producer surplus, which affects the market as the actual price of the product is compromised.
A taxed product always attracts a few customers only, an imposition of tax could lead the fall in the demand and/or supply.
Impact of Dead weight Loss on the Market operability:
A dead weight loss is caused when the government fails to identify its roles and responsibilities in the market. Dead weight loss is a direct impact to the society. Market inefficiency is caused the goods and services are overvalued or undervalued. An overvalued product might be beneficial to the firm but impact the consumers. An undervalued product might be satisfying to the consumer but it always refrains the produce to continue production of such products.
As a student of economics, I have always been concerned with dead weight loss homework answers. A major reason to develop aversion to this topic could be the intricacies it brings along with it.
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How effective is taking an online homework help for Dead weight Loss?
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The above points mentioned for assistance on Dead weight Loss projects worked for me, could also help other students who are seeking a prospective career in Economics.
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