question 1

Which of the following corresponds with non- competitive market failure? 0 Pesticide used to keep cotton free of insects makes people sick A tax on imported cotton that raises the price of cotton for consumers 0 One international corporation with a monopoly on cotton seed production 0 Farmers unaware of market price for cotton Which of the following is NOT related to government failure? 0 Information failure 0 External ities O Moral failure 0 Principal-agent problems Which of the following statements is NOT true regarding process mapping? Q It is an established procedure, developed in the 19305. 0 Symbols are used to guide the process map. Q It is used to document processes. Q It is a pictorial representation of a process. \fIn a pure market economy, public goods are over-provided, because the government is not involved in the economy 0 are provided by the government 0 tend to be under-provided O are sold at a higher price than private goods