When a Market Is Missing

question 90

Multiple Choice

When a market is missing:

• A) deadweight loss will increase, but only if more units are exchanged.
• B) the government must create the market artificially.
• C) total surplus could increase through the creation of a new market.
• D) consumers' willingness to pay is too low to sustain the efficient quantity.

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Definitions:

Sensation

The process by which our sensory receptors and nervous system receive and represent stimuli from our environment.

Skin Bruising

Discoloration and swelling in the skin due to trauma causing bleeding underneath.

Sebum

An oily substance produced by the sebaceous glands of the skin, which helps to keep the skin and hair moisturized and protected.

Perspire

The natural process of sweating, through which the body regulates its temperature and expels toxins.