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Concept
Efficiency Losses
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Summary
Efficiency Losses
, often referred to as
Deadweight Loss
, occur when resources are not allocated optimally, leading to a loss in
Total societal welfare
. These losses can arise from
Market Distortions
such as taxes, subsidies,
Price Floors
, or ceilings, preventing the market from reaching equilibrium where supply equals demand.
Concepts
Compressed Air Energy Storage
Electric Motor Efficiency
Relevant Degrees
Materials Testing and Economics of Energy 40%
Business Administration 30%
Mechanical Engineering 20%
Economic Planning and Policy 10%
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