Which of the following statements is not true? answer selection group In monopoly or oligopoly markets, markets fail because there are not many sellers. In a case of perfect competition market, there is no market failure because the social surplus is maximized. In case of externalities, markets fail because the outcome in a market affects some people outside the market. Market failure is the inability of some unregulated markets to allocate limited resources efficiently.

Which of the following statements is not true? answer selection group In monopoly or oligopoly markets, markets fail because there are not many sellers. In a case of perfect competition market, there is no market failure because the social surplus is maximized. In case of externalities, markets fail because the outcome in a market affects some people outside the market. Market failure is the inability of some unregulated markets to allocate limited resources efficiently.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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