Which of the following is not an example of a failure of market outcome?
A. A person with a gun offers you your life for your money.
B. Emission of pollutants is producing acid rain and killing wildlife.
C. Addicts continue to use heroin even though they would be better off without it.
D. Income is not distributed in a way society wants.
Answer: B
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The above figure shows the Lorenz curve for wealth for the nation of Rusha. The poorest forty percent of the population own what percent of wealth?
A) 0 percent B) 10 percent C) 20 percent D) 40 percent
The government forcing a monopoly telecommunications company to allow other firms to use its cables is an attempt to
A) regulate prices. B) decrease the monopoly market power by eliminating a natural monopoly. C) decrease the monopoly market power by increasing competition. D) None of the above.