Business, 31.03.2020 04:02 mckenzieg

The term market failure refers to a. a situation in which the market on its own fails to allocate resources efficiently. b. an unsuccessful advertising campaign which reduces demand for a product. c. a situation in which competition among firms becomes ruthless. d. a firm that is forced out of business because of losses.

Answers: 3

Show answers

Answers

Answer from: jwbri

A. a situation in which the market on its own fails to allocate resources efficiently.

Explanation: A Market Failure is an economic situation in which the Market fails to allocate resources efficiently in a free market economy.

The market is a place where goods and services are exchange and if the management of the market is not well coordinated, it will lead to Market Failure.

There are different types of market failure which are:

1. Public goods

2. Market control

3. Externalities

4. Imperfect information.

There are also some causes of market failure and they are:

1. Power abuse (a monopoly)

2. A sole buyer of a factor of production

3. Improper or incomplete distribution of information

4. Externalities and public goods.

Answer from: Andrewecolt1993

A) a situation in which the market on its own fails to allocate resources efficiently.

Explanation:

A market failure happens when the total output of a good or service is less than or more than the socially optimal quantity.

In real life, a market is never able to achieve a socially optimal output, but coming close is generally good enough. When the price of a good or service is lower than the marginal social cost, then an over production and over consumption of the good will occur. On the other hand, when the price of a good or service is higher than the marginal social cost, then an under production and under consumption of the good will occur.

The greatest problems happen when there is an over provision of demerit goods, or private goods or services that are over consumed generating negative externalities.

The under production of merit goods is also a problem, since private goods that generate positive externalities aren't produced in enough quantities to satisfy the demand.

Marginal social cost = marginal private cost + marginal external costs (+ or -)

Answer from: Quest

What are the options?

Answer from: Quest

there's 11 people for the 1st position. then, no matter who gets it, there's only 10 left for the second, and then 9 left for the third. 11 x 10 x 9 = 990. the answer is there are 990 different ways the positions can be filled by these applicants

Another question on Business

Business, 21.06.2019 21:30

Price and efficiency variances, journal entries. the schuyler corporation manufactures lamps. it has set up the following standards per finished unit for direct materials and direct manufacturing labor: direct materials: 10 lb. at $4.50 per lb. $45.00 direct manufacturing labor: 0.5 hour at $30 per hour 15.00 the number of finished units budgeted for january 2017 was 10,000; 9,850 units were actually produced. actual results in january 2017 were as follows: direct materials: 98,055 lb. used direct manufacturing labor: 4,900 hours $154,350 assume that there was no beginning inventory of either direct materials or finished units. during the month, materials purchased amounted to 100,000 lb., at a total cost of $465,000. input price variances are isolated upon purchase. input-efficiency variances are isolated at the time of usage. 1. compute the january 2017 price and efficiency variances of direct materials and direct manufacturing labor. 2. prepare journal entries to record the variances in requirement 1. 3. comment on the january 2017 price and efficiency variances of schuyler corporation. 4. why might schuyler calculate direct materials price variances and direct materials efficiency variances with reference to different points in time

Answers: 2

Answer

Business, 22.06.2019 23:10

Tony prince is the project manager for the recreation and wellness intranet project. team members include you, a programmer/analyst and aspiring project manager; patrick, a network specialist; nancy, a business analyst; and bonnie, another programmer/analyst. other people are supporting the project from other departments, including yusaff from human resources and cassandra from finance. assume that these are the only people who can be assigned and charged to work on project activities. recall that your schedule and cost goals are to complete the project in six months for under $200,000.task 2identify at least eight milestones for the recreation and wellness intranet project. write a short paper describing each milestone using the smart criteria. discuss how determining these milestones might add activities or tasks to the gantt chart. remember that milestones normally have no duration, so you must have tasks that will lead to completing the milestone.

Answers: 3

Answer

Business, 23.06.2019 02:50

Three years ago, stock tek purchased some five-year macrs property for $82,600. today, it is selling this property for $31,500. how much tax will the company owe on this sale if the tax rate is 34 percent? the macrs allowance percentages are as follows, commencing with year 1: 20.00, 32.00, 19.20, 11.52, 11.52, and 5.76 percent.

Answers: 1

Answer

Business, 23.06.2019 11:30

During the interview process with both companies, justin learns something about a new product that big box co. is producing that will directly compete with hope springs. because justin learned about the ethics of and what is unethical, he will not share this information during his interview with hope springs.

Answers: 2

Answer

You know the right answer?

The term market failure refers to a. a situation in which the market on its own fails to allocate re...

Questions

Business, 23.03.2021 05:50

Macintosh Inc. changed from LIFO to the FIFO inventory costing method on January 1, 2021. Inventory values at the end of each year since the inception...