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Which one of the following would be an example of a demand - side market failure? a
Which one of the following would be an example of a demand - side market failure?
a. Everyone rushes to the local retail outlet at midnight on the date of the release of the new video game consuls, and the store run out before everyone is able to find one.
b. A gas station is slowly leaking diesel fuel from its underground tanks, and after the leak is discovered, the business immediately cleans up the pollution at its own expense.
c. The gas station is slowly leaking diesel fuel from its underground tanks, but the state uses a taxpayer money to clean up the pollution rather than requiring the business to pay.
d. Your business wants to attract repeat customers by putting on a customer appreciation picnic at a public park, but you decided not to because you couldn't prevent non-customers from consuming the food and entertainment you provided.
Expert Solution
d. Your business wants to attract repeat customers by putting on a customer appreciation picnic at a public park, but you decided not to because you couldn't prevent non-customers from consuming the food and entertainment you provided
Demand-side market failure depicts a situation when there is not the possibility of charging the required prices from consumers. In this situation, there is a fear that the non-customers would not pay any charge for the services. Hence, the firm has decided not to function.
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