Market failure results in
A. economic collapse.
B. no goods being produced.
C. Pareto efficiency.
D. lost surplus.
Answer: D
You might also like to view...
Explain how the purchases of used goods and of financial assets affect GDP
What will be an ideal response?
A monopsonist wants to purchase more labor. Which of the following statements is TRUE?
A) The wage rate that the monopsonist has to pay future workers is lower than it pays current workers since there is no other place to work. B) The wage rate that the monopsonist has to pay future workers will be the same rate it pays current workers. C) The wage rate that the monopsonist has to pay future workers is higher than what it will continue to pay current workers. D) The monopsonist will have to raise the wage rate for current and additional employees.