An instance where the market does not produce an efficient outcome is called

Name: An instance where the market does not produce an efficient outcome is called
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Question

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A market failure occurs when the market fails to allocate resources efficiently. This happens when the market forces of supply and demand do not lead to optimal outcomes for society as a whole. Examples of market failures include externalities, public goods, and asymmetric information, among others.

An Instance Where the Market Does Not Produce an Efficient