The Term "Deadweight Loss" or "Excess Burden" Is Used to Describe

Multiple Choice

The term "deadweight loss" or "excess burden" is used to describe the

A) expenditures on exercise and weight-reducing programs by individuals who are overweight.
B) loss from the elimination of mutually beneficial exchanges that results from the imposition of a tax in a market.
C) difference between the value consumers place on a good and the price they have to pay for it.
D) reduction in consumer welfare that occurs when the firms in a market make a profit.