The term "market failure" a. refers to the dissolution of a market when firms decide to quit producing a certain product. b. refers to government's failure to enforce the property rights of households or firms that participate in a certain market. c. refers to the failure of a market to produce an efficient allocation of resources. d. means the same thing as "market power."
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Home » Business » The term "market failure" a. refers to the dissolution of a market when firms decide to quit producing a certain product. b. refers to government's failure to enforce the property rights of households or firms that participate in a certain market. c.