Register
If there is a lack of competition in a market, a market failure results because the quantity of goods sold is ___ than the optimal level while prices are ___ than the optimal level.
52.3k views
5 votes
If there is a lack of competition in a market, a market failure results because the quantity of goods sold is ___ than the optimal level while prices are ___ than the optimal level.

User Dennise
by
7.8k points

1 Answer

2 votes
goods sold is lower because less competition and then they price it higher because consumers don't have options. 
User Uriel Frankel
by
7.9k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

In what way did the GI Bill contribute to the growth of professional and white-collar jobs ? A.by providing US laborers with new job-training programs B.by giving US veterans assistance to purchase a new
The government has decided that the free market price of cheese is too low. Farmers complain that the price floor has reduced their total revenue.Is this possible? Explain
The government’s involvement in economy serves what two purposes?
Identify the advantages and disadvantages of a command economy.
How can life expectancy and literacy rates affect the quality of labor in the economy?
Link Copied!