Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. Which of the following factors are possible causes of market failures ? a.There exists an externality such as pollution or education. b.A single person

3. Which of the following factors are possible causes of market failures?

a.There exists an externality such as pollution or education.

b.A single person or firm holds large market power.

c.In addition to efficiency, the society is trying to meet other goals such as fairness, equity, national security, etc.

d.All of the above.

image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Marketing

Authors: Shane Hunt

3rd Edition

1260800458, 9781260800456

More Books

Students also viewed these Economics questions

Question

Technology

Answered: 1 week ago

Question

Population

Answered: 1 week ago