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Why is production complete when it get to the final consumer?
because goods are produced to be consumed
What is the term that describes when the amount of goods produced is about the same as the number of consumed who are willing to buy the product?
Supply
Collective consumption means?
Collective consumption is a concept that refers to the many goods and services that are produced and consumed on a collective level.
How can one calculate deadweight loss in economics?
Deadweight loss in economics can be calculated by finding the difference between the quantity of goods or services that would be produced and consumed in a perfectly competitive market and the quantity produced and consumed in a market with a distortion, such as a tax or subsidy. This difference represents the loss of economic efficiency caused by the distortion.
How can one find deadweight loss in a market?
Deadweight loss in a market can be found by calculating the difference between the quantity of goods or services that would be produced and consumed in a perfectly competitive market, and the actual quantity produced and consumed in a market with market imperfections such as monopolies or externalities. This loss represents the inefficiency and welfare loss in the market.
