Which of the following is possible when the market fails?
A) The mix of goods and services is on the production possibilities curve.
B) It is impossible for government intervention to improve the mix of goods and services.
C) The mix of goods and services is at the correct point on the production possibilities curve.
D) The mix of goods and services is the optimal mix.
Correct Answer:
Verified
Q12: Any imperfection in the market mechanism that
Q13: The term market mechanism refers to
A)The use
Q14: Which of the following is a source
Q15: The optimal mix of output is always
Q16: From an economic standpoint,government intervention is justified
A)When
Q18: Resources are directed from one industry to
Q19: Government intervention may be appropriate to correct
Q20: Market failure implies that the market mechanism
A)Leads
Q21: Which of the following is the government
Q22: Externalities
A)Occur because of government failure.
B)Are the costs
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