When the price system fails to generate an efficient allocation of resources
A) the market will always correct it.
B) consumers will spend less.
C) business will produce more.
D) too few or too many goods will be produced.
Correct Answer:
Verified
Q2: Consumers are sovereign when
A) prices are decided
Q3: Market failure occurs when
A) a good is
Q4: When misallocation of resources for production of
Q5: When market failures occur
A) the invisible hand
Q6: Market failures occur when
A) externalities exist.
B) economic
Q7: When there are too few or too
Q8: Which of the following is a benefit
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
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