Market failure results when firms seek to make a profit rather than to serve the best Interests of consumers.

Name: Market failure results when firms seek to make a profit rather than to serve the best Interests of consumers.
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Question

Quizplus · Accepted Answer

Market failure occurs when the allocation of goods and services is not efficient, often due to externalities, public goods, or information asymmetries, not simply because firms seek profit.

Market Failure Results When Firms Seek to Make a Profit