To correct a market failure, society typically relies on
a. the market to correct itself
b. individual producers' cost-minimization procedures
c. the industry policing itself
d. the government to either tax, subsidize, or control output directly
e. price to reach equilibrium
D
Economics
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What does it mean for a country to have an absolute advantage in producing a product?
What will be an ideal response?
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All games share three characteristics. Two of these characteristics are rule and strategies. What is the third characteristic called?
A) payoffs B) competition C) collusion D) results
Economics