Market failure implies that a policy of laissez-faire:
A) Leads the economy to a point beyond the production possibilities curve.
B) Leads the economy to an undesirable point on the production possibilities curve.
C) Is superior to government intervention.
D) Causes government failure.
Correct Answer:
Verified
Q9: Market failure establishes a basis for:
A) Market
Q10: The optimal mix of output is:
A) the
Q11: Which of the following is not an
Q12: Market failure means that the economy is
Q13: The most desirable combination of output attainable
Q15: Market failure occurs when:
A) Market prices signal
Q16: In economics,a public good:
A) Is any good
Q17: Sources of microeconomic failure that may require
Q18: Which of the following does not explain
Q19: Which of the following is an economic
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