A situation in which the market system allocates too many resources to the production of a given activity is known as
A) market allocation.
B) market failure.
C) market efficiency.
D) market breakdown.
B
Economics
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If the indifference curves between two goods are L-shaped, the goods are
A) complementary goods. B) substitute goods. C) normal goods. D) inferior goods.
Economics
Refer to the data. In equilibrium, the introduction of new product Z has increased this consumer's total utility by:
Consumer's income = $12
A. 42 utils.
B. 54 utils.
C. 60 utils.
D. 66 utils.
Economics