Which of the following is not a market failure?
A) A lack of competition in some markets.
B) Prices determined in competitive markets, which consumers, as individuals, have no control over.
C) The presence of externalities in some markets.
D) A lack of public goods desired by a majority of citizens.
E) Income inequality.

Question

Quizplus · Accepted Answer

Prices determined in competitive markets are not considered a market failure; they are a characteristic of how competitive markets function efficiently.

Which of the Following Is Not a Market Failure