tb mc qu. 04 - 01 (algo) market failure is said to... market failure is said to occur whenever multiple…

tb mc qu. 04 - 01 (algo) market failure is said to... market failure is said to occur whenever multiple choice markets fail to deliver the highest possible amount of net benefits from the limited amount of resources available to society. the market demand curve reflects the full willingness to pay of every person receiving benefits from the product being sold. the market produces only units for which benefits are at least equal to costs. the market supply curve reflects all of the costs of production.

tb mc qu. 04 - 01 (algo) market failure is said to... market failure is said to occur whenever multiple choice markets fail to deliver the highest possible amount of net benefits from the limited amount of resources available to society. the market demand curve reflects the full willingness to pay of every person receiving benefits from the product being sold. the market produces only units for which benefits are at least equal to costs. the market supply curve reflects all of the costs of production.

Answer

Brief Explanations:

Market failure occurs when the allocation of goods and services by a free - market is not efficient, meaning it fails to deliver the highest possible amount of net benefits from the limited resources available to society. The other options describe efficient market scenarios rather than failure.

Answer:

markets fail to deliver the highest possible amount of net benefits from the limited amount of resources available to society.