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Tidy Tidy
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9 years ago
What is a market failure?
A) It refers to the inability of the market to allocate resources efficiently up to the point where marginal social benefit equals marginal social cost.
B) It refers to the inability of the market to allocate resources efficiently up to the point where marginal social benefit equals marginal private cost.
C) It refers to a situation where an entire sector of the economy (for example, the airline industry) collapses because of some unforeseen event.
D) It refers to a breakdown in a market economy because of widespread corruption in government.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
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Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face
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SydnieSydnie
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8 years ago
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Tidy Author
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9 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
jayfo05
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Yesterday
Good timing, thanks!
DragonHeart
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2 hours ago
Just got PERFECT on my quiz
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