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by brandonkm 5705 days ago
This is a good way of showing what deadweight loss is. Another way of explaining it could be anytime you have an economic loss with no gains elsewhere in the economy. For example: trade quotas and tariffs create deadweight loss in a economy because they transfer value from the consumers to the producers by raising prices.

Also, anytime you have a market where theres a monopoly, deadweight loss will typically occur.