Economists use the term "market failure" to refer to those free- market situations where
A) externalities are present in the economy.
B) government has intervened in the economy.
C) allocatively efficient outcomes are not achieved.
D) income is not distributed equitably.
E) the economy is not in equilibrium.
Correct Answer:
Verified
Q43: If a firm produces a good and
Q44: Adverse selection is said to exist when
Q45: Government intervention in an effort to promote
Q46: In a free- market economy that is
Q47: A good example of a product that
Q49: The diagram below shows the marginal benefit
Q50: Most economists who study "public choice theory"
Q51: Market failure means that
A) one or more
Q52: Consider a non- rivalrous good, like national
Q53: An example of a public good is
A)
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