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Economics · Oct / Nov 2022 · Paper 13 · Question 8

2281Market failure

What is a possible consequence of market failure?

  1. AConsumers have complete information about goods.
  2. BDisequilibrium continues in the market.
  3. CMerit goods are under-supplied.
  4. DSome goods are no longer demanded.

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Correct answer: C. Merit goods are under-supplied.

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