Which of the following is an example of market failure?5
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Q: Which of the following is an example of market failure?
- 1Prices do not reflect the full social cost of productiontrue
- 2A firm goes out of business because it cannot find a market for its productsfalse
- 3Prices rise so that the consumers cannot afford the products they want to buyfalse
- 4Producer surplus is maximizedfalse
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