Name two types of market failure. Explain why eachmay cause market outcomes to be inefficient.

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A: Producer surplus is the area below the price and above the supply curve.

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Q: Name two types of market failure. Explain why each may cause market outcomes to be inefficient.

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Q: What are the concepts, reasons and effects of market failure? Note: list them down.

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Q: Explain what is meant by market failure and   outline the sources of market failure.

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Q: Explain the two causes of market failures. Given their definitions, could a market be affected by…

A: Market failure refers to the condition where the free markets fail to distribute resources…

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Q: Question 4

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Q: c) Competitive equilibrium is the best possible allocation.

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Q: The market demand and supply for a particular good is given as Q-S--100+4 P, and Q-D=50-P. 0 The…

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Q: What is a market failure

A: Definition of Market Failure In the free market, market failure is characterized as an inefficient…

Q: What happens to the market price when a producer in a competitive marketincreases its output?

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Q: Calculate the economic surplus in the market represented by the graph.

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Q: Explain another type of market failure

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Q: When a market produces more or less than the optimal amount of a particular good, economists say…

A: Market failure is a circumstance in economics that is characterized by an inefficiency in the…

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Q: a) Draw a standard S & D graph for a competitive market. It will be the basis for a series of…

A: A market structure with a large number of buyers and sellers is referred to as a competitive market.…