Market failure can occur when
A) individuals can influence prices.
B) a market for a commodity does not exist.
C) some firms have market power.
D) all of these answers are correct.
Correct Answer:
Verified
Q11: A public good is
A)always provided by the
Q12: Movement from an inefficient allocation to an
Q13: An example of an activity that generates
Q14: The marginal rate of substitution is
A)the slope
Q15: The absolute value of the slope of
Q17: Welfare economics
A)only looks at the poorest parts
Q18: The government must intervene in markets in
Q19: According to the Second Fundamental Theorem of
Q20: Social indifference curves are the same as
Q21: Social welfare functions can be formed in
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