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Economics Paper -11, Winter 2012 -
18. Which is a type of market failure?
A a general increase in the price of hotel rooms in busy summer seasons
B an increase in house prices caused by easier borrowing for house buyers
C an increase in travel time caused by a road accident
D an increase in unsold goods because of a change in tastes
Marking Scheme says answer is Option 'C'. This is an error right.
18. Which is a type of market failure?
A a general increase in the price of hotel rooms in busy summer seasons
B an increase in house prices caused by easier borrowing for house buyers
C an increase in travel time caused by a road accident
D an increase in unsold goods because of a change in tastes
Marking Scheme says answer is Option 'C'. This is an error right.