Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. economics
  3. how do free competitive markets maximize social we

How do free competitive markets maximize social welfare? In addition, what are market failures and how...

80.2K

Verified Solution

Question

Economics

How do free competitive markets maximize social welfare? Inaddition, what are market failures and how do they affect socialwelfare?

Answer & Explanation Solved by verified expert
3.7 Ratings (417 Votes)
Free competitive markets are those where the equilibrium is reached by the forces of demand and supply without any intervention This means that the price is such that the sellers are selling the quantity    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

ssume you dissolve 0.235 g of the weak acid benzoic acid, C6H5CO2H, in enough water to...

Finance
1.2K views

A​ bond's market price is ​$1 comma 150. It has a ​$1 comma 000 par​ value,...

Electrical Engineering
1.2K views

Draw a block diagram of an elevator controller. Clearly identify inputs and outputs of each block....

Biology
1.2K views

POPULATION Time Years A irregular B stable C exponential D cyclical The human population shown...

Basic Math
1.2K views

Required information The following information applies to the questions displayed below Laker Company reported the...

Statistics
1.2K views

Solve by substitution or elimination by subtraction or addition 2z 3y 1 y z 1

Algebra
1.2K views

Divide using synthetic division 2 x 25x 172 X 4 x 25x 172

Accounting
1.2K views

Campbell Inc. produces and sells outdoor equipment. On July 1, Year 1, Campbell issued $25,000,000...

Accounting
1.2K views

The most important number to gauge financial health on the Income Statement is likely a....

Accounting
1.2K views

. Paris Corporation holds a $100,000 unrealized net capital gain and a capital loss carryforward...

Finance
1.2K views

What is the present value of the following annuity? $3,274 every half year at the...

Finance
1.2K views

Question 9 1 pts The qualified joint and survivor annuity (JSA) form of payment is...