Question: Homework Content Question 1 A market failure occurs when A property is privately owned and people behave competitively. B shortages or surpluses of some good

Homework Content Question 1 A market failure occurs when A property

is privately owned and people behave competitively. B shortages or surpluses of

Homework Content Question 1 A market failure occurs when A property is privately owned and people behave competitively. B shortages or surpluses of some good cannot be eliminated. C a private market cannot provide a good in socially efficient quantities D consumers' surplus falls to zero

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