Question

Markets fail to allocate resources efficiently when a. demanders and suppliers cannot agree on a price. b. property rights are not well established. c. too many buyers and sellers exist in the same market. d. goods are rival in consumption and excludable.

Answer 1

Answer:

b. property rights are not well established.

Explanation:

Since in the question it is mentioned that the markets is not able to allocate or distribute the resources efficiently and this would happen at the time when the property rights were not well created or developed

Therefore as per the given situation, the option b is correct

hence, the same is to be considered

ANd, the rest of the options are wrong