What does the term market failure refer to?
A) a situation in which the market on its own fails to allocate resources efficiently
B) an unsuccessful advertising campaign that reduces buyer demand
C) a situation in which competition among firms becomes ruthless
D) a firm that is forced out of business because of losses
Correct Answer:
Verified
Q128: If an externality is present in a
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Q130: Complete the following statement: In the presence
Q131: What can cause market failure?
A) low consumer
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Q135: What are two causes of market failure?
A)externalities
Q136: If education produces external benefits for society,
Q137: What is an externality?
A)the impact of one
Q138: If a copper refinery does NOT bear
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