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Homework answers / question archive / 1)Market failure occurs when: a

1)Market failure occurs when: a

Marketing

1)Market failure occurs when:

a. An imperfection in the market mechanism prevents an optimal outcome.

b. The economy produces at a point on the production possibilities curve.

c. Market prices signal producers to produce the optimal mix of output.

d. Producers supply the goods that earn the greatest profit.

2. The most desirable combination of output attainable with available resources, technology and social values is known as the:

a. Efficient choice of production.

b. Optimal mix of output.

c. Economic choice of output.

d. Preferred output choice.

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