ECONOMICS
MARKET FAILURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A developer built some large houses in a rural area which poorer people could not afford. The houses destroyed an area of natural beauty. What type of market failure resulted from the development?
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inequality of income
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ignoring external cost
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lack of information
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price discrimination
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Explanation:
There is 1 question to complete.