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Which of the Following Is Likely to Cause Market Failure

question 73

Multiple Choice

Which of the following is likely to cause market failure and be undersupplied?


Definitions:

Persuasion Process

The act of convincing someone to change their beliefs, attitudes, or behaviors through argument, reasoning, or appeal to emotion.

Persuasion

The act of convincing someone to do or believe something through reasoning or the use of temptation.

Cognitive Dissonance

The psychological discomfort experienced by an individual when holding two or more contradictory beliefs, ideas, or values at the same time.

Beliefs

Convictions or acceptances that something exists or is true, especially without proof.

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