Why is so much medical research that develops medical techniques (as opposed to patentable drugs or physical devices) conducted in universities and paid for by government grants? Group of answer choices Private sector researchers cannot recover the cost of research when the result is easily observed and replicated University research is cheaper than researching in traditional companies Because government run universities do not pay sales tax they can perform any task more cheaply than it can be done in a for profit business Because universities have concentrated collections of highly trained faculty they can produce results more efficiently than in the private sector.Which of the statements below best describes the concept of "market failure"? Group of answer choices When no private firm can profitably sell a desirable good or service The stock market crash of 1929 and similar financial events When snow piled on the roof of a shopping center causes the roof to collapse from the weight A market serviced by multiple firms but which has monopolistic characteristics caused by consumer preferences for individual products