If there is a lack of competition in a market, a market failure results because the quantity of goods sold is _ than the optimal level while prices are _ than the optimal level.

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Alan Watson

17 October, 03:47

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Kelsey Frye · Answer 1

Goods sold is lower because less competition and then they price it higher because consumers don't have options.

If there is a lack of competition in a market, a market failure results because the quantity of goods sold is ___ than the optimal level while prices are ___ than the optimal level.