Market failure exists when: a. Consumers don't have enough information to make informed choices b. Producers...
Market failure exists when:
| a. Consumers don't have enough information to make informed choices |
| b. Producers can set prices |
| c. There are only a few producers in a market |
| d. Any of the above. |
| e. A & B only |
Homework Answers
Ans) the correct option is d. Any of the above.
Market failure exists when less is produced. When the firm is a price maker, it has a control over the market price which implies quantity produced is less than the market quantity. This leads to Market failure.
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