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.

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: Public Goods And Common Resources

Section: Chapter Questions

Problem 2PA

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