Which of These Is an Example of the FAILURE of the Market

question 3

Multiple Choice

Which of these is an example of the FAILURE of the market to achieve economic efficiency?

• A) Firms and employees successfully achieving all mutually beneficial transactions.
• B) Alpha Industries is willing to pay $55,000 per year to hire a computer programmer. Dean, a qualified computer programmer, would gladly give up his job as a waiter for a computer programming job paying at least $45,000, but is unaware of Alpha's opening.
• C) Laura refuses to quit smoking even though Marlene offers her $1 per hour to stop.
• D) Ace Engineering is willing to pay Diane $11 per hour, but Diane is willing to work for $10 per hour, so Ace hires her for only $10 per hour.

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Definitions:

Structure Labeled

In microscopy, the identification and tagging of specific cellular or molecular components with labels or markers for study.

Anther

The part of the stamen in flowers that produces microspores and, ultimately, pollen grains.

Endosperm

A nutritive tissue in seeds of most flowering plants, providing sustenance to the developing embryo.

Triploid

An organism or cell having three complete sets of chromosomes, typically resulting from a cross between a diploid and a tetraploid or through nondisjunction events.