| 单词 | triangle of loss |
| 释义 | triangle of loss A measure of the loss attributable to setting an output level so that marginal cost and marginal benefit are not equal. In a market with an upward-sloping supply curve and a downward-sloping demand curve, if output is below the equilibrium level, the triangle of loss is the area between actual and equilibrium output above the supply curve and below the demand curve. If these units had been produced the marginal benefit to consumers would have been greater than the cost to producers. If output is above the equilibrium level, the triangle of loss is the area between equilibrium and actual output above the demand curve and below the supply curve. If these units are produced, the marginal benefit to consumers is less than the cost to producers. |
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