When there are too few or too many resources going to an economic activity
A) a public good exists.
B) a market failure exists.
C) consumer sovereignty exists.
D) a free-rider problem exists.
Correct Answer:
Verified
Q2: Consumers are sovereign when
A) prices are decided
Q4: When misallocation of resources for production of
Q6: Market failures occur when
A) externalities exist.
B) economic
Q7: An example of a market failure is
A)a
Q9: Market failure occurs when
A) the price system
Q10: Which of the following terms describes the
Q11: The price system allocates resources efficiently EXCEPT
Q14: In its most ideal form, a price
Q15: Market failures
A) are usually caused by government
Q18: Which of the following statements is NOT
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