Market Failure Occurs When

question 64

Multiple Choice

Market failure occurs when

• A) firms that are incurring losses leave a market.
• B) perfectly competitive firms produce where MR = MC.
• C) resources are misallocated, or allocated inefficiently.
• D) firms are only able to earn a normal profit.

Examine the contributions of key individuals to American manufacturing and technology.

Grasp the transformative role of water and steam power in manufacturing and transportation.

Appraise the social, economic, and political changes spurred by the market economy expansion.

Understand the characteristics and purposes of various research methods (descriptive, correlational, experimental, longitudinal) in psychology.

---

Definitions:

Alkene Product

A type of hydrocarbon containing at least one carbon-carbon double bond, formed as the result of certain organic reactions.

2-Chloro-2-methylpentane

An organic compound with the molecular formula C6H13Cl, characterized by a chlorine atom attached to the second carbon of a methylpentane chain.

Ether

A class of organic compounds characterized by an oxygen atom connected to two alkyl or aryl groups.

Reactivity

The propensity of a material to engage in chemical reactions, on its own or with other substances, resulting in energy emission.