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Which statement about triggers is correct?
Deadweight Losses
Economic inefficiencies that arise when market equilibrium is not achieved, often resulting from monopolies, taxes, subsidies, or price controls, leading to lost welfare for consumers or producers.
X-inefficiency
The difference between efficient behavior of businesses under competitive environments versus the inefficiency that arises in the absence of competition.
Competitive Firms
Companies that operate in markets where no single firm has the power to influence the price of goods and services significantly.
Monopolistic Firms
Companies that have significant control over the market for a particular good or service, allowing them to influence price and production levels.
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