Sources of market failure include
A. public goods.
B. external costs.
C. external benefits.
D. All of the above are correct.
Answer: D
Economics
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Refer to the data. If product price is $45, the firm will:
A. shut down.
B. produce 4 units and realize a $120 economic profit.
C. produce 5 units and realize a $15 economic profit.
D. produce 6 units and realize a $100 economic profit.
Economics
Pure monopolists:
A. Maximize MR B. Are price takers C. Operate where P > MC D. Face demand curves that are perfectly inelastic
Economics