Explain what is meant by market failure
What will be an ideal response?
Discussed in the chapter, pages 544–545.
Economics
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What information is typically included in a prospectus?
What will be an ideal response?
Economics
The sum of the marginal utilities of a good, at any consumption level
a. cannot be measured b. adds up to total utility c. adds up to maximum utility d. is negative because of the law of diminishing marginal utility e. is zero because marginal utility eventually becomes negative, canceling the positive values of marginal utility
Economics