Which type of good is most likely to be subject to market failure?
A)Public
B)Private
C)Uncommon
D)Factor of production

Question

Quizplus · Accepted Answer

Public goods are most likely to be subject to market failure because they are non-excludable and non-rivalrous, meaning they can be consumed by many people at once without diminishing in availability, and it's difficult to exclude non-payers from using them. This often leads to underproduction or overconsumption, necessitating government intervention.

Which Type of Good Is Most Likely to Be Subject