What Is Meant by a Deadweight Loss

question 10

Multiple Choice

What is meant by a deadweight loss?

• A)It is the aggregate loss in total surplus in an inefficient market.
• B)It is the total loss in producer surplus due to output being at an inefficient level.
• C)It is the sum of the consumer and producer surpluses in an inefficient market.
• D)It is the loss in consumer surplus due to a price ceiling or floor in the market.

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Definitions:

Stimulus Discrimination

The ability to differentiate between a conditioned stimulus and other stimuli that have not been paired with an unconditioned stimulus.

Organism

A living entity capable of growth, reproduction, and often response to external stimuli, ranging from single-celled forms like bacteria to complex multicellular entities like humans and plants.

Original Stimulus

The specific element or event in classical conditioning that initially triggers a conditioned response without any need for learning.

Conditioned Stimulus

A formerly neutral signal that, once linked with an unconditioned stimulus, triggers a conditioned response.