3 Tutorials that teach Deadweight Loss
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Deadweight Loss

Deadweight Loss

Author: Dan Laub
This lesson covers deadweight loss.
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Introduction to Psychology

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Notes for "Deadweight Loss"


Key Terms

Deadweight loss

A situation, often caused by an imposed constraint, that results in either excess demand or supply occurring at the market price due to the inability of the market to adjust to market clearing price and quantity.

Consumer surplus

Determined by the difference between actual price paid for a good and the highest amount the consumer would have willingly paid for the good.

Producer surplus

The difference between actual payment for a good and the least amount a producer would have willingly agreed to receive for the good.