One type of market failure is the resource misallocation that occurs when goods and services are provided in a monopoly market structure.

Name: One type of market failure is the resource misallocation that occurs when goods and services are provided in a monopoly market structure.
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In a monopoly, a single firm controls the market, leading to inefficient allocation of resources, higher prices, and reduced output compared to competitive markets, which is a form of market failure.

One Type of Market Failure Is the Resource Misallocation That