​Examples of Market Failure Include Lack of Competition, Externalities, Public

question 163

True/False

​Examples of market failure include lack of competition, externalities, public goods, and income inequality.

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Definitions:

Dilated Pupils

A condition where the pupils of the eyes are larger than normal, which can occur due to low light, excitement, or certain medical conditions.

Cirrhosis

A late stage of scarring (fibrosis) of the liver caused by many forms of liver diseases and conditions, such as hepatitis and chronic alcoholism.

Chronic Alcohol Use

A pattern of alcohol consumption that is consistent and prolonged, leading to health problems and addiction.

Bradycardia

A condition characterized by an abnormally slow heart rate, typically defined as fewer than 60 beats per minute in adults.