Economists label the net loss to society due to an uncompetitive labor market structure as a

Question

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Deadweight loss refers to the net loss to society due to an uncompetitive market structure, which includes a labor market. It represents the reduction in economic efficiency resulting from market distortions like monopoly power, price controls, subsidies, and taxes. It arises when the price or quantity differs from the socially optimal level, leading to a reduction in consumer and producer surplus, and ultimately harming overall welfare. Therefore, D is the best choice to describe the net loss in such a scenario.

Economists Label the Net Loss to Society Due to an Uncompetitive