From an economic standpoint, government intervention is justified
A) When the market mechanism fails to achieve the optimal mix of output.
B) Because the government will encourage the production of private goods.
C) Because the government can increase the level of market power of private businesses.
D) When the private sector is larger than public sector.
Correct Answer:
Verified
Q2: Market failure implies that the market mechanism
A)Leads
Q4: Government intervention may be appropriate to correct
Q7: The most desirable combination of output attainable
Q7: The optimal mix of output is the
Q8: The optimal mix of output is always
Q9: When market failure occurs,the role of government
Q10: Which of the following is a source
Q11: If production in the economy is efficient,
Q14: The market
A)On its own may not always
Q19: Which of the following is possible when
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