Two public policies aimed at reducing emissions of greenhouse gases and other harmful pollutants are Carbon pricing and Renewable energy standards.
Carbon pricing is the policy puts a price on carbon emissions through mechanisms such as a carbon tax or a cap-and-trade system. The idea behind this policy is to create a financial incentive for businesses and individuals to reduce their emissions.
Renewable energy standards (RES) require a certain percentage of the total energy consumed in a given area to come from renewable sources such as wind, solar, hydro, or geothermal power. This policy is designed to encourage the adoption of clean energy and reduce the reliance on fossil fuels.
Both of these policies have been implemented in various forms in many countries around the world and have been successful in reducing emissions and promoting the use of clean energy.
To learn more about public policy click on,
https://brainly.com/question/18723293
#SPJ4
Match these items. Match the items in the left column to the items in the right column.
1. analysis
2. benefit
3. condition
4. cost
5. maximize
6.rational behavior
7.rational thinking
to receive the most from
what is given up when a decision is made
circumstance
what is gained when a decision is made
behavior based on what will bring the most
satisfaction, under certain conditions
thinking that considers something in a logical
in-depth study
Items in the left column can be combined with items in the right column as follows:
Analysis: In-depth study.Benefit: What is gained when a decision is made.Condition: What is given up when a decision is made.Cost: CircumstanceMaximize: To receive the maximum of.Rational behavior: Behavior based on what will bring more satisfaction under certain conditions.Rational thinking: Thinking that considers something logically.What are the important features for management?It is necessary that the group of executives and managers mainly have rational thinking and behavior, which will allow decision-making in line with the company's needs to meet the objectives and goals.
Therefore, the items in both columns are related to the management environment, where there must be an analysis of costs, benefits and a strategic vision to find the best conditions and maximize profits.
Find more about managerial roles at:
https://brainly.com/question/12477390
#SPJ1
What does an increase in nominal GDP mean?
An increase in nominal GDP means that the total value of goods and services produced by a country.That has increased over a certain period generally a time.
Nominal GDP is calculated by taking the current demand value of all goods and services produced in a country and adding them together. This means that an increase in nominal GDP can be attributed to several factors similar as an increase in consumer spending investment, or government spending.An increase in nominal GDP doesn't inescapably mean that the country's frugality is growing in real terms.
As it doesn't take into account affectation or changes in the cost of living. Thus it's important to consider real GDP which adjusts for affects when assessing profitable growth.
To learn more about Increase in nominal GDP:
https://brainly.com/question/29650808
#SPJ4
give the business report example
Below is and example of how to write at business report about a company who is facing complaints.
Report on poor sales by the ABC Agency :
Terms of Reference : To report the concerned authorities about the poor after sales services of Mobile phones by ABC agency.Methodology : Visited company agents of ABC agency from 22nd January to 25th January. Talked about all the complaints and made detailed enquiries. Meeting with Agency owner and service staff.Findings : The enquiries show that people who had complaints all bought the phone after the company's new model launched after the new year. Complaints were about unsatisfying services and no resolution of issues. All the appointed staffs were paid less and some of them left. Newly appointed staffs were not given proper training. Conclusion : Absence of Healthy work environment in the agency and lack of experience in the newly appointed staffs was the reason for poor service. There is also no senior staff to supervise the employees.Learn more about Business reports here,
https://brainly.com/question/29650084
#SPJ4
Paul Krugman believed that a country that attempts to use strategic trade policy to establish a domestic firm in a dominant position in a global industry, is most likely to
dominate the industry.
move away from protectionism.
provoke retaliation.
incur huge financial debts.
upset the special-interest groups within the economy
According to Paul Krugman, a strategic trade policy that aims to give home companies the upper hand in a global industry is a beggar-thy-neighbor approach that raises national wealth at the expense of other nations.
Tariffs, subsidies, import quotas, voluntary export expense limits, local content requirements, administrative policies, and antidumping duties are the seven basic tools used in trade policy. The simplest and oldest trade policy tool is the tariff. How many or how much money may be industry on items that a nation can import or export at one time. Limits on the amount of merchandise companies that may be brought into a nation at one time are known as import quotas.
To learn more about industry, click here.
https://brainly.com/question/28495859
#SPJ4
Costs associated with field failures, company’s goodwill/reputation, maintenance costs, and warranty costs can be classified as
Costs associated with field failures, company's goodwill/reputation, maintenance costs, and warranty costs can be classified as post-purchase costs.
Post-purchase costs are costs that are incurred after a product has been purchased by the customer. These costs are typically associated with repairs, replacements, and maintenance of the product. Post-purchase costs can also include costs related to the company's reputation and goodwill, as these can be affected by product failures and defects. Warranty costs are also included in post-purchase costs, as these are costs that the company incurs to honor the warranty on their products.
In summary, post-purchase costs are an important consideration for companies, as they can have a significant impact on the company's bottom line and reputation.
Learn more about cost at: https://brainly.com/question/25811981
#SPJ11
Manufacturing overhead is applied with a debit to ______.a) Manufacturing overheadb) Cost of goods soldc) Work in processd) Accounts payable
Manufacturing overhead is deducted from work in progress.
When manufacturing overhead is imposed, which account is debited?
Overhead charges are debited from the overhead account when they are incurred. The overhead account receives credit for overhead costs incurred during production in the work-in-process account. If manufacturing overhead has a negative balance, it is underapplied, and the resulting cost of goods sold is overstated. If manufacturing overhead has a credit balance, the overhead is overapplied, and the final cost of goods sold amount is inflated.
To know more about manufacturing accounts click on the link below:
https://brainly.com/question/13440987
#SPJ1
what is called buying goods or services instead of producing or providing them in-house
Buying the goods or the services instead of producing or providing them in-house is called: Outsourcing.
Outsourcing is an arrangement in which a company hires another company to take responsibility for planned or existing activities that would otherwise take place internally.
The term outsourcing comes from the word "outside resourcing", he was born in 1981 at the latest. According to The Economist, “concrete since World War II,” this concept often includes outsourcing of business processes (B. payroll, billing), manufacturing, facilities management , operational and/or non-core functions such as call center/call center support.
Outsourcing can also be defined as the short-term transfer of control of a public service to a private company (privatization), even for a limited period of time.
Outsourcing includes both foreign and domestic contracts and can also include offshoring (moving business functions to a distant country) or nearshoring (moving business processes to a nearby country).
Offshoring and outsourcing are not mutually exclusive. One can exist without the other. They are intertwined (offshore outsourcing) and may be partially or fully reversed, individually or collectively, including methods such as reshoring, inshoring and insourcing.
To know more about outsourcing, here:
https://brainly.com/question/28915776
#SPJ4
If buyers and sellers in a certain market are price takers, then individuallythey have some influence on market price but that influence is limited.they have no influence on market price.buyers will be able to find prices lower than those determined in the market.sellers will find it difficult to sell all they want to sell at the market price.
If buyers and sellers in a particular market are price takers, then each of them has a small amount of influence over market price. A market equilibrium known as a competitive equilibrium.
What is market equilibrium?Market equilibrium is a situation of the market when the supply and demand are balanced. The price of an item or service at the point where market supply and demand are balanced is known as the equilibrium price. Economic equilibrium is a state of affairs when supply and demand, for example, are balanced and the values of other economic variables do not vary in the absence of outside influences. Market supply and demand must balance one another to reach equilibrium, which leads to stable pricing. In general, an abundance of commodities or services leads in lower pricing, which increases demand, whereas a dearth of either results in higher prices.
To learn more about Market equilibrium click,
https://brainly.com/question/29618306
#SPJ1
the epipen is a lifesaving device used by individuals with severe allergies. the u.s. manufacturer of the epipen raised its price by nearly 25% per year for nearly a decade. For each price increase of 25%, would quantity demamded change by more or less than 25%?
It is difficult to predict how much the quantity demanded would change for each price increase of 25%. Factors such as availability of alternative treatments, consumer reactions, and changes in the overall market can all influence the results.
The amount of change in quantity demanded in response to a 25% price increase is not predictable and can vary depending on a variety of factors.
For example, if there is a limited availability of alternative treatments, consumers may be less likely to find a substitute and therefore the quantity demanded may not decrease by 25%.
On the other hand, if there are a variety of alternatives, consumers may be more likely to switch to a cheaper option, resulting in a decrease in quantity demanded of more than 25%. Additionally, the overall market can influence the level of change in quantity demanded.
Learn more about quantity: https://brainly.com/question/1692392
#SPJ4
A free-market system cannot operate effectively and fairly without a reliable foundation in __________.
a. contract law
b. government regulation
c. equality of consideration
d. equity
Option - A : A free-market system cannot operate effectively and fairly without a reliable foundation in contract law .
In a free-market society, contract law offers a framework for the negotiation and enforcement of agreements between people and businesses. It lays forth the terms and conditions of the exchange of goods and services and offers a procedure for resolving any disputes that could develop.
As it offers people and businesses the assurance to engage in transactions, knowing that their agreements will be enforced and that they will be treated fairly, the dependability of contract law is crucial for the effective operation of a free-market economy. The simplest definition of a contract is a commitment that is legally binding. The commitment might be to carry out or abstain from a certain action. A contract must be made with the consent of two or more parties, usually with the consent of just one.
For such more questions on contract law:
brainly.com/question/8476938
#SPJ4
why chinese companies are investing billions in mexico
Chinese companies are investing billions in Mexico to access the Mexican market and to take advantage of lower production costs.
Mexico is an attractive destination for Chinese companies because of its large population, relatively low labor costs, and proximity to the United States.
Additionally, Mexico has a number of free trade agreements in place with other countries, making it easier for Chinese companies to export their products.
By investing in Mexico, Chinese companies gain access to a large and growing market, while at the same time reducing their production costs.
The investments are also helping to create jobs and boost the Mexican economy. Mexico is becoming an increasingly attractive option for Chinese companies looking to expand their reach and boost their profits.
To know more about investments,
https://brainly.com/question/27717275
#SPJ4
The primary purpose of the basic economic order quantity (EOQ) model is to:__
a. Minimize the sum of purchase cost and holding cost b. Maximize the customer service level c. Calculate the optimum safety stock level d. Calculate the reorder point, so that replenishments take place at the proper time e. None of these choices are correct
The primary purpose of the basic economic order quantity (EOQ) model is to: minimize the sum of purchase cost and holding cost (option a)
The primary goal of Economic Order Quantity (EOQ) is to minimize the total inventory cost, which includes both ordering costs and holding costs. EOQ is a formula that helps organizations to determine the optimal order quantity of inventory that minimizes the total inventory cost.
The EOQ model assumes that there is a trade-off between the ordering cost and the holding cost. Ordering cost is the cost of placing an order for inventory, while holding cost is the cost of holding inventory in stock, including the cost of storage, insurance, and obsolescence. The EOQ formula calculates the quantity of inventory that minimizes the sum of these two costs.
By minimizing inventory costs, EOQ can help organizations to optimize their inventory management and achieve several benefits, such as reducing stock-outs, improving cash flow, and improving profitability.
Learn more about economic order quantity here:
https://brainly.com/question/26814787
#SPJ4
What is the answer for Brand that is known for manufacturing baseball and softball clothing and equipment Crossword Clue?
The creator of the clothing bears a percentage of the media cost when a local store advertises using the manufacturer's brand.
Cooperative advertising is when multiple brands work together to create a campaign that is profitable for both sides. Frequently, producers, distributors, or wholesalers assist retailers in marketing their goods. This type of marketing benefits both merchants and manufacturers, as it gives them a cost-effective option to run promotions. Cooperative marketing initiatives can range in size from a few ads to a whole marketing campaign. When a foreign company buys a local business with the goal to own and actively managing it, this is referred to as a direct investment in the domestic country. The American clothing manufacturer made this investment, making it a direct one in Taiwan. The transaction would qualify as a foreign portfolio investment if the American company had merely bought stock in a Taiwanese corporation.
Learn more about Cooperative advertising here:
https://brainly.com/question/29491083
#SPJ4
PDCA is most often applied with regard to which aspect of TQM?
A) Six Sigma
B) employee empowerment
C) continuous improvement
D) benchmarking
E) JIT
When it comes to the employee involvement component of TQM, PDCA is most frequently used.
What element of TQM typically applies Pdca?
It is inappropriate to benchmark by comparing one of your divisions to another of your divisions; benchmarking necessitates the comparison of your company to other organisations. The advantages of the various problem-solving cycles are where Lean and Six Sigma practitioners disagree most. Lean is an example of the PDCA methodology, but Six Sigma is more reliant on the DMAIC idea. A continuous cycle of planning, doing, checking (or researching), and acting is known as the PDCA/PDSA cycle. It offers a straightforward method for dealing with issues and directing change.
To know more about TQM click on the link below:
https://brainly.com/question/15190626
#SPJ1
Which of the following do you not need to take into account when you retire?
Responses:
-Your monthly expenses
-The cost of living in your city and state
-How much money you have saved in your retirement fund
-Whether your money comes from active or passive income
The thing that does not need to take into account when you retire is Whether your money comes from active or passive income. Thus the correct6 option is D.
What is Retirement?Retirement refers to the duration of an individual's life when he stops working with the purpose of earning money. This retirement is considered a voluntary choice due to health issues or crossing the official age of working which varies from industry to industry.
The major goal of retirement planning is to become financially independent after retirement, which enables a person to live stress-free without worrying about necessities.
Their major objective is to make sure that clients have enough cash to live happily in retirement by taking into account monthly costs and the amount of money you have saved up in a retirement account.
Therefore, option D is appropriate.
Learn more about retirement, here:
https://brainly.com/question/20751552
#SPJ2
a state is looking to reduce the cost of transportation, which uses 7.10×1014 7.10 × 10 14 btus btus per year. currently the cost of 106 10 6 btus btus is $20.00. how much will the state save in one year if they implement regulations requiring all transportation methods to be 20% more efficient?
The answer is, The state save in one year if they implement regulations requiring all transportation methods to be 20% more efficient - 2.84 Billion.
Calculations-
if the state implements regulations that all transportation methods to be 20% more efficient means, Then, the energy consumption per year should be 80% of the initial energy demand:
= 80% of initial energy consumption
= 80% of BTUs
= BTUs
So, the initial cost was-
= $ 1.42
= $ 14.2 Billion
after implementation of regulations cost will be-
= $11.36 Billion
State savings in one year if they implement regulations-
= 14.2 -11.36
= $ 2.84 Billion (answer)
Describe a regulatory example.When a federal government agency issues a set of guidelines to carry out a legislation passed by Congress, that agency is known as the federal government. As an illustration, the Federal Reserve Board has published regulations over the years to assist in the implementation of statutes like the Federal Reserve Act, the Bank Holding Company Act, and the Dodd-Frank Act.
What distinguishes a legislation from a regulation from a law?Laws drafted and adopted by the legislative branch of government are known as statutes, often known as codes (e.g, U.S. Congress, state legislators). Regulations, often known as rules, are created by organizations like the Environmental Protection Agency to support laws that have already been enacted by the government.
To know more about Regulations visit:
https://brainly.com/question/29767609
#SPJ1
When evaluating the alternatives of a decision, managers need to base decisions strictly on cost, quality, and feasibility.
a. True
b. False
Managers must evaluate decision alternatives based solely on cost, quality, and feasibility. b. False
What does manager's mean?
One who manages: for example, a person who manages business or household affairs. He was promoted to manager last month. Top-level managers, middle managers, front-line managers, and team leaders are the four most common types of managers. These roles differ not only in their day-to-day responsibilities, but also in their broader function in the organization and the types of employees they manage. A good leader sets a good example and knows how to use their strengths to help their team achieve their objectives.
Know more about decision Visit:
https://brainly.com/question/30673588
#SPJ1
_____ is a sale in which the customer pays for the total amount of the sale at the time of the transaction.
A cash sale is a sale in which the customer pays for the total amount of the sale at the time of the transaction.
Cash sales are often used in retail, as they are the simplest and quickest form of payment.
Cash sales are attractive to customers, as they do not require the customer to enter into a payment plan or wait for the payment to be processed.
For businesses, cash sales can be beneficial, as they do not require the business to wait for payment, and they do not incur any debt. Cash sales also reduce the risk of non-payment and can help to improve cash flow.
Cash sales are an important part of any business, and can help to ensure that businesses remain profitable.
To know more about Cash sales,
https://brainly.com/question/28462685
#SPJ4
The above figure shows the market for gourmet ice cream. In effort to reduce obesity, government places a dollar 2 tax per gallon on suppliers in this marker, shifting the supply curve from S_0 to S_1. The total tax revenue is equal to a. 400,000. dollar
b. 500,000. dollar
c. 200,000. dollar
d. 800,000. dollar
The following attachment should be used to demonstrate how the second, fourth, and fifth columns of the provided table have been completed.
As we are aware Total revenue minus total costs equals profit. Total revenue is the amount of money the business brings in by multiplying the price by the number of customers. While the overall expense is = Variable cost-plus fixed cost. The source of the marginal revenue is = Change in quantity x Change in total revenue. These formulas are merely used in the spreadsheet that follows. Reducing income tax rates is something a supply-side economist advocates. She is likely presuming that the economy is at the graph's point d. The Laffer curve in economics depicts a potential link between tax rates and the amount of tax revenue that results. It implies that there is a tax rate that will maximize overall tax collections.
Learn more about The spreadsheet here:
https://brainly.com/question/16986745
#SPJ4
The above figure shows the market for buckets of golf balls at the driving range. A new leisure time tax is placed on suppliers in this market, shifting the supply curve from S0 to S1. The amount of this tax is ________ per bucket of golf balls
The tax is $3 for each bucket bought golf balls.
What does the word "tax" mean?A tax is a statutory fee or monetary charge that a government imposes on a person or a business in order to raise money for public projects like building the greatest services and infrastructure. Different state spending programs are then funded with the funds that have been raised. Indirect taxes include value-added tax, service charges, tax on goods and services customs duty, etc. while direct taxes include income tax, gift tax, investment income tax, etc. Taxes are levied on tangible property, including real estate and business dealings like stock sales or home purchases. Income, corporation, capital gains, property, probate, or sales taxes are among the different types of taxes.
To know more about tax visit:
https://brainly.com/question/16423331
#SPJ4
what is the management philosophy and strategy focused on creating value for customers by eliminating waste?
The management philosophy and strategy focused on creating value for customers by eliminating waste is called Lean Management.
Lean Management is a systematic approach to identifying and eliminating waste within a company's processes. It emphasizes the optimization of resources and creating a culture of continuous improvement.
The goal of Lean Management is to increase customer value by reducing costs, increasing efficiency, and improving service quality. Practices such as kaizen (continuous improvement), value stream mapping, and 5S are all part of Lean Management.
To learn more about Lean Management link is here
brainly.com/question/29919575
#SPJ4
What is a system for storing digital transactions made with cryptocurrency?
A. Biometric authentication
B. QR codes
C. Bitcoin
D. Blockchain
Blockchain technology is a system for storing digital transactions made with cryptocurrency. Thus, option D is correct.
What is cryptocurrency?Cryptocurrencies represent a brand-new approach to money. They pledge to accelerate and reduce the cost of the current monetary structure. Additionally, their technologies and design decentralize current financial systems and enable asset exchange between parties involved.
Blockchain explains how actions are things and archived into "blocks." A digital record of bitcoin exchanges is created as a result, which is challenging for attackers to alter despite being a pretty complicated, technical procedure. Therefore, option D is correct.
Learn more about cryptocurrency, here:
https://brainly.com/question/16450854
#SPJ9
The two conditions that must exist for a sale and the related receivable to be recognized are:__________
The two conditions that must exist for a sale and the related receivable to be recognized are:
The company has provided goods or services to the customerThe collection from the customer is probable.What are receivables?In finance, receivables refer to amounts of money owed to a company by its customers or clients for goods or services that have been sold or provided on credit.
Accounts receivable, or trade receivables, are the most common type of receivables. They arise when a company extends credit to its customers, allowing them to purchase goods or services without immediate payment. Other types of receivables include notes receivable, which are written promises to pay at a later date, and interest receivable, which is the interest that a company earns on its loans and investments.
Learn more about receivable at:
https://brainly.com/question/24848903
#SPJ1
What Is the Natural Rate of Unemployment?
The natural unemployment rate is the lowest rate of unemployment caused by natural or voluntary economic processes.
Natural unemployment indicates workers changing jobs, the amount of unemployed who have been displaced by technology, or those who lack the skills to find work.
When the US economy is doing well, the term "full employment" is frequently used as a goal to strive for. The word is misleading because there are always people looking for work, including recent college graduates and those displaced by technological improvements.
Natural unemployment is constantly represented by the movement of workers throughout the economy. Unemployment that is cyclical, institutional, or policy-based is not considered natural.
If workers lose the skills needed to obtain full-time job, or if particular enterprises collapse and are unable to reopen owing to severe revenue loss, an economic crash or steep recession may raise the natural unemployment rate. Economists refer to this phenomenon as "hysteresis."
To know more about natural unemployment rate:
https://brainly.com/question/15230373
#SPJ4
Prepaid expenses should be _____ by the cost of the asset used during the accounting period.
a. unaffected
b. increased
c. decreased
Prepaid costs are future fees that are paid in advance, such as hire or insurance. On the stability sheet, prepaid expenses are first recorded as an asset. As the advantages of the belongings are realized over time, the quantity is then recorded as an expense.
Is prepaid prices an asset in accounting?Prepaid expenses are recorded as an asset on a business's stability sheet due to the fact they signify a future advantage that is due to the company. Prepaid costs are quantities paid in enhance through a business in change for items or services to be delivered in the future.
Prepaid prices are these prices which are now not incurred or due but however are paid in advance with the aid of the company.
Learn more about Prepaid expenses here:
https://brainly.com/question/9270086#SPJ1marlene routinely volunteers to organize the company holiday party and summer picnic. marlene demonstrates a high level of
a) organizational citizenship behaviors. b) job performance. c) self-importance. d) insecurity and the need for social acceptance
Option A : marlene routinely volunteers to organize the company holiday party and summer picnic. marlene demonstrates a high level of organizational citizenship behaviors.
Organizational citizenship behaviours are voluntary acts that enhance an organization's social and psychological climate but are not explicitly required of a person's employment. Organizational citizenship activities include Marlene's selfless efforts in planning the corporate holiday party and summer picnic. These acts can enhance an organization's general productivity and morale and foster a pleasant workplace culture. Organizational citizenship behaviours are distinct from job performance, which is the capacity of a person to successfully carry out the official obligations and responsibilities of their position. Employees' individual, arbitrary behaviours that go outside the scope of their official job descriptions are known as organisational citizenship behaviours (OCBs). Managers that are aware of the benefits and drawbacks of OCBs may support workers in making their best contributions to the business and preventing burnout.
For such more questions on organizational citizenship behaviors:
brainly.com/question/10088678
#SPJ4
firms that want to start getting into a global market with the least amount of investment possible will most likely begin with ________.
Who is Jil Sander and Rose Marie Bravo?
Jil Sander is a German fashion designer who is best known for her minimalist aesthetic and designs.
Rose Marie Bravo is an American fashion executive who is best known for her role as the CEO of the British fashion house Burberry from 1997 to 2006.
She founded her eponymous fashion label, Jil Sander, in 1973, which quickly gained popularity for its clean lines, neutral colors, and understated elegance. Sander became known as the "Queen of Less" for her minimalist approach to fashion, which rejected the flashy, exaggerated styles that were popular in the 1980s and 1990s. She left her label in 2000, but returned briefly in 2003 and 2012.
Bravo is credited with turning around the struggling brand by reviving its signature check pattern and repositioning it as a luxury fashion label. Under her leadership, Burberry became one of the world's most successful fashion brands, with revenues increasing from £225 million to £1.2 billion during her tenure. Prior to Burberry, Bravo held executive positions at several other fashion companies, including Saks Fifth Avenue, Bergdorf Goodman, and I. Magnin.
For more such questions on Personalities
https://brainly.com/question/23161776
#SPJ4
The process of dividing the potential market into sub markets with common needs and features is.
Market segmentation is the process of dividing a larger market into smaller sub-groups of consumers with similar needs or characteristics.
This allows companies to create targeted marketing campaigns and products to meet the specific demands of each segment. By understanding and addressing the unique needs of these segments, businesses can increase customer satisfaction, improve marketing efficiency, and ultimately drive sales growth. Effective market segmentation requires thorough market research, analysis, and a deep understanding of consumer behavior and preferences.
You can learn more about Market segmentation at
https://brainly.com/question/14225381
#SPJ4
how to calculate deadweight loss
Deadweight loss (DWL) is a measure of the economic inefficiency caused by market distortions or government intervention. It represents the loss of economic welfare that occurs when the equilibrium quantity of a good or service is not optimal due to market inefficiencies.
To calculate deadweight loss, you need to follow these steps:
Determine the initial equilibrium price and quantity of the good or service in question.
Determine the new equilibrium price and quantity that would result if the market were operating without the distortion or intervention.
Calculate the difference in consumer and producer surplus between the initial equilibrium and the new equilibrium. Consumer surplus is the difference between the willingness to pay and the actual price paid by consumers, while producer surplus is the difference between the price received by producers and their willingness to sell.
Calculate the area of the triangle between the initial and new equilibrium quantities and prices. This is the deadweight loss.
The formula for deadweight loss is:
DWL = 0.5 x (Q1 - Q2) x (P1 - P2)
where Q1 and Q2 are the initial and new equilibrium quantities, and P1 and P2 are the initial and new equilibrium prices.
Note that the deadweight loss is always a negative number, as it represents a loss of economic welfare. Additionally, the magnitude of the deadweight loss is influenced by the elasticity of demand and supply, as well as the size of the market distortion or intervention.
For more such questions on deadweight loss
https://brainly.com/question/25484804
#SPJ4