Asked by
Janaya Destini
on Oct 09, 2024
Verified
When a supply-side market failure occurs,the costs are greater than the benefits for the last unit(s)of output produced.
Supply-Side Market Failures
Situations where the production or supply side of the market does not efficiently allocate resources due to externalities or other market imperfections.
Costs
The expenses involved in manufacturing a product or providing a service.
Benefits
Advantages or positive outcomes that result from a particular action or policy.
- Understand the economic effects of supply-side market inefficiencies and the strategies to mitigate them.
Verified Answer
RE
Learning Objectives
- Understand the economic effects of supply-side market inefficiencies and the strategies to mitigate them.
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