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A market failure occurs when Multiple choice question. the cost of producing a good or service exceeds the price for which it sells. some consumers
A market failure occurs when Multiple choice question. the cost of producing a good or service exceeds the price for which it sells. some consumers are unable to purchase a good or service due to its high price. the market does not produce an output level that maximizes total surplus. property rights are well-defined
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International Macroeconomics
Authors: Robert C. Feenstra, Alan M. Taylor
Fourth Edition
1319061729, 978-1319061722
