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Best video👍
Tanku sir
Hi sir,I understood everything but can you tell me what is the meaning of welfare loss?and the welfare loss is to whom
The loss to society as a result of production not being at the socially optimal level. Negative externalities cause too much of a good to be produced and consumed - the economy and society loses as a result
@@after_bell thank you now everything is clear
@@after_bell and one more thing what about welfare gain?
Best video👍
Tanku sir
Hi sir,I understood everything but can you tell me what is the meaning of welfare loss?and the welfare loss is to whom
The loss to society as a result of production not being at the socially optimal level. Negative externalities cause too much of a good to be produced and consumed - the economy and society loses as a result
@@after_bell thank you now everything is clear
@@after_bell and one more thing what about welfare gain?