Economics · Market Failure and Public Policy
Given below are two statements: Statement (I): Market failure justifies government intervention. Statement (II): Government intervention always leads to efficient outcomes without failure. Choose the most appropriate answer:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I is incorrect but II is correct
- 2I is correct but II is incorrect✓
- 3Both I and II are incorrect
- 4Both I and II are correct
Correct answer
I is correct but II is incorrect
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