What Event Marks the Birth of a Star,and What Event

question 57

Essay

What event marks the birth of a star,and what event marks its death?

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Definitions:

Deadweight Loss

A decrease in economic efficiency arising when a good or service fails to attain or cannot possibly attain equilibrium.

Deadweight Losses

Economic inefficiencies that occur when equilibrium in a market is not achieved or when market allocation of resources is not optimal, often due to externalities or government intervention.

Consumer Surplus

A rephrased definition: The economic benefit that consumers receive when they can purchase a product for less than the maximum price they are willing to pay.

Consumer Surplus

The gap between the overall sum consumers are ready and able to spend on a product or service and what they really spend.