The situation that occurs when a market does NOT provide the socially optimal amount of a good is called
A) market failure.
B) social dislocation.
C) the "economic miss."
D) a recession.
Correct Answer:
Verified
Q52: (Figure: Determining Consumer and Producer Surplus) Based
Q53: (Figure: Determining Consumer and Producer Surplus) Based
Q54: Which of these is a positive externality?
A)
Q55: If a metal stamping plant produces negative
Q56: If an entrepreneur opens an adult day
Q58: Reasons for market failure include
A) common property
Q59: Market failure occurs when
A) quantity supplied does
Q60: (Table: Property Values) A local university
Q61: (Figure: Toxic Waste) From the graph, the
Q62: (Figure: Toxic Waste) From the graph, the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents