Which of the Following Can Prevent Markets from Reaching the Efficient

question 39

Multiple Choice

Which of the following can prevent markets from reaching the efficient level of production?
I. A monopoly
II. Taxes
III. The product is a public good

• A) I and II
• B) II
• C) II and III
• D) I, II and III

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Definitions:

Cochlea

A spiral-shaped, fluid-filled inner ear structure that is essential for hearing by transforming sound waves into nerve impulses.

Applied Psychology

The study of psychological issues that have direct practical significance; also, the application of psychological findings.

Basic Psychology

The study of psychological issues for the sake of knowledge rather than for its practical application.

Gestalt Psychologists

Psychologists who study how people integrate and perceive sensory information to understand complex scenes as whole entities.