question archive 1)In the case of open access resources and public goods, the competitive market output level will be socially efficient
1)In the case of open access resources and public goods, the competitive market output level will be socially efficient
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1)In the case of open access resources and public goods, the competitive market output level will be socially efficient. Why is this statement false or true?
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- Here, the statement given in the question is FALSE.
Usually, in the case of the open-access resources and public goods, there are high chances of market failure which makes a difference between the output level in the competitive market and the socially efficient level.
