An example of a market failure is
A) a firm is dumping toxic waste that is making people sick.
B) when not everyone who wants to see a major league football game can.
C) when there is an increase in demand and a shortage develops.
D) unemployment.
A
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If the price of a resource falls, other things constant,
a. demand for the product it produces will increase b. demand for a substitute product will increase c. demand for a substitute resource will fall d. supply of that resource will rise e. supply of a substitute resource will also rise
Inflation
a. causes people to spend more time reducing money balances. When inflation is unexpectedly high it redistributes wealth from lenders to borrowers. b. causes people to spend more time reducing money balances. When inflation is unexpectedly high it redistributes wealth from borrowers to lenders. c. causes people to spend less time reducing money balances. When inflation is unexpectedly high it redistributes wealth from lenders to borrowers. d. causes people to spend less time reducing money balances. When inflation is unexpectedly high it redistributes wealth from borrowers to lenders.