Which of the following demonstrates a market failure? Select all that apply. O The negative externalities of carbon emissions result in overproduction. O Apple can increase the price of an iPhone without losing all of its sales. O At an equilibrium wage of $12/hr, a worker has negative saving every month after paying for rent, food, and student loans. O You don't trust your dentist when they recommend $400 of work. Therefore, you decide not to fix your cavity. O Your marginal benefit from a jacket that costs $300 would be $80, but you decide to buy it for $140 on Black Friday because it's on such a steep discount.
Which of the following demonstrates a market failure? Select all that apply. O The negative externalities of carbon emissions result in overproduction. O Apple can increase the price of an iPhone without losing all of its sales. O At an equilibrium wage of $12/hr, a worker has negative saving every month after paying for rent, food, and student loans. O You don't trust your dentist when they recommend $400 of work. Therefore, you decide not to fix your cavity. O Your marginal benefit from a jacket that costs $300 would be $80, but you decide to buy it for $140 on Black Friday because it's on such a steep discount.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Which of the following demonstrates a market failure? Select all that apply.
The negative externalities of carbon emissions result in overproduction.
Apple can increase the price of an iPhone without losing all of its sales.
At an equilibrium wage of $12/hr, a worker has negative saving every month after paying for rent, food, and student loans.
You don't trust your dentist when they recommend $400 of work. Therefore, you decide not to fix your cavity.
O Your marginal benefit from a jacket that costs $300 would be $80, but you decide to buy it for $140 on Black Friday because it's on such a steep discount.
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