A(n) ______ occurs when the public has incomplete information in order to make a decision or the decision is too complex and difficult for the average citizen to know how best to proceed.

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An information failure occurs when the public does not have all the information needed to make a decision or the decision is too complex. This can result in market failure as individuals may make suboptimal choices based on incomplete information. Monopoly relates to a single company having control over a particular product or service. Economic context refers to the broader economic factors affecting a particular market. Joint consumption occurs when multiple individuals consume the same good or service simultaneously.

A(n) ______ Occurs When the Public Has Incomplete Information in Order