"Market Failure" Is Best Defined as

"Market failure" is best defined as

A) a phenomenon that occurs when markets fail to perform efficiently or they fail to perform according to other widely held social values
B) a phenomenon that occurs when markets perform efficiently or they perform according to other widely held social values
C) a phenomenon that occurs when markets crash, generating an economic crisis such as during the Great Depression
D) a phenomenon that occurs when markets experience simultaneous high inflation and high unemployment