Which of the Following Can Prevent Markets from Reaching the Efficient

question 214

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:

Discharged

The release or termination of an obligation, such as debt or duty, under certain conditions.

Security Agreement

A legal contract that grants a lender a security interest in an asset or property offered as collateral for a loan.

Assigned

Transferred or allocated to a party or for a specific purpose.

Repossess

The act of taking back goods or property by a seller or lender from the buyer or borrower, usually due to failure to meet the terms of the sale or loan agreement.