Question: The idealized competitieve model does NOT include which component? O Utility-maximizing behavior of people O Utility-maximizing behavior of firms Profit maximizing behavior of firms Invisible

The idealized competitieve model does NOT include which component? O Utility-maximizing behavior of people O Utility-maximizing behavior of firms Profit maximizing behavior of firms Invisible hand Question 16 The four types of market failures are public goods, information asymmetry, natural monopoly, and externalities. True O False

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