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AP Microeconomics
Unit 6 – Market Failure and the Role of Government
Topic 6.1
Why might a socially inefficient outcome persist in a market even when external costs or benefits are present?
Lack of government intervention.
Inelastic demand and supply.
Perfect competition among firms.
Equilibrium price and quantity.
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AP Microeconomics - 6.1 Socially Efficient and Inefficient Market Outcomes
Key terms
External Costs
Market
Benefits
Socially inefficient outcome
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About Us
About Fiveable
Blog
Careers
Testimonials
Code of Conduct
Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
Request a Feature
Report an Issue
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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