Health insurance companies that charge so much for health insurance premiums that many people cannot afford insurance is an example of market failure caused by: choose the correct answer from the following choices, and then select the submit answer button. answer choices
a) one party preventing mutually beneficial trade in order to capture more profits.
b) society's choice of equity over efficiency.
c) a good that is not suitable for efficient management by markets.
d) actions that have side effects that are not properly taken into account by the market.

The correct answer is A) One party preventing mutually beneficial trade in order to capture more profits.

Explanation:

Market failures are usually associated with inconsistent time preferences, information asymmetries, non-competitive markets, principal-agent problems, externalities or public goods.The existence of market failures is usually the reason why organizations Self-regulated states and supranational institutions intervene in a particular market, economists, especially microeconomists, tend to worry about market failures and their possible solutions. That analysis plays an important role in many types of public policies and studies. However, state intervention, such as taxes, subsidies, bailouts, price controls and regulations (including poorly implemented attempts to correct market failures) can also lead to inefficient allocations of resources, known as State failures.

answer; is usually (less than) the socially optimal level of consumption;