Examlex
Perform the operation and write the result in standard form.
Deadweight Loss
The loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is not achievable, leading to a suboptimal allocation of resources.
Equilibrium Quantity
The quantity of goods or services that is supplied and demanded at the price where supply and demand are equal.
Tax
An unavoidable fiscal exaction or different type of contribution enforced by a governmental faction on a taxpayer, intended to support the financing of governmental operations and a range of public service outlays.
Tax Revenue
The income governments procure through the levy of taxes.
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