Which of the following does not explain why the market sometimes fails to produce the optimal mix of output?
A) Some producers have market power.
B) Public goods can have free-riders.
C) Private goods cannot be consumed jointly.
D) There are externalities associated with production.
Correct Answer:
Verified
Q13: The most desirable combination of output attainable
Q14: Market failure implies that a policy of
Q15: Market failure occurs when:
A) Market prices signal
Q16: In economics,a public good:
A) Is any good
Q17: Sources of microeconomic failure that may require
Q19: Which of the following is an economic
Q20: The tendency for the market to under
Q21: An individual firm will not normally have
Q22: The free-rider problem arises because those who:
A)
Q23: The communal nature of a highway means
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