When faced with a market failure,the government:
A) usually tries to redistribute the existing surplus more fairly.
B) always takes over the market.
C) often encourages the well-functioning firms to stay through protectionist policy.
D) generally enacts thoughtful policy in order to create market efficiency.
Correct Answer:
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Q1: An example of an excludable good or
Q2: Excludability matters because it:
A) allows owners to
Q4: The type of good that is most
Q4: Most goods are:
A)exclusive.
B)public goods.
C)rival in consumption.
D)nonrival in
Q5: An example of an excludable good or
Q6: When a good is rival in consumption:
A)
Q7: The problem caused by goods that are
Q10: Which of the following is likely to
Q11: When a good ends up over consumed
Q14: Which of the following goods is most
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