When market failure is present,
A) democratic political decision-making can be counted on to improve the efficiency of resource allocation.
B) market allocation will achieve idealized economic efficiency.
C) the conditions implied by idealized efficient allocation of resources will be absent, but it does not follow that political action will improve the situation.
D) democratic political decision-making will never be able to improve the efficiency of resource allocation.
Correct Answer:
Verified
Q75: How does the text define economic efficiency?
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Q77: Use the figure below to answer the
Q78: Figure 5-4 Q79: Figure 5-1 Q81: When there is reason to think that Q82: When externalities are present, Q83: "Government failure" is present when Q84: Government failure is present when Q85: Markets fail to allocate resources efficiently when
A) suppliers will refuse
A) constitutional restrictions
A) the government
A)
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