Consumers are sovereign when
A) prices are decided by sellers.
B) a few consumers exercise coercion on sellers and other consumers.
C) they can prevent market failure.
D) they have the freedom to decide what they wish to purchase.
Correct Answer:
Verified
Q1: When the price system fails to generate
Q3: Market failure occurs when
A) a good is
Q4: When misallocation of resources for production of
Q5: When market failures occur
A) the invisible hand
Q6: Market failures occur when
A) externalities exist.
B) economic
Q7: When there are too few or too
Q8: Which of the following is a benefit
Q9: Market failure occurs when
A) the price system
Q10: Which of the following terms describes the
Q11: The price system allocates resources efficiently EXCEPT
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