Explain how market dominance and imperfect information can lead to market failure.
Introduction Market failure occurs when the operation of the market fails to achieve economic efficiency in the allocation of scarce resources i.e. it is possible to change the existing resource allocation to make someone better off without making someone else worse off. There are a few causes of market failure including market dominance and imperfect […]
Explain how market dominance and imperfect information can lead to market failure. Read More »