Spot price of West Texas Intermediate in relation to the price of Brent Crude. Historically price differences between Brent and other index crudes have been based on physical differences in crude oil specifications and short-term variations in supply and demand.
When does market failure occur? Whenever resources are not allocated efficiently. ie. total surplus is not maximised. What are the main types of market failure?
Liver failure occurs when a large number of liver cells are damaged and no longer able to function at all. According to the Mayo Clinic, liver failure may come on suddenly, but more commonly occurs after years of progressively decreasing functioning.