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Economics
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Market efficiencies and inefficiencies. perfect competition and example from your personal life.  four sources of market failure and examine how each led to an inefficient allocation of resources.  example for each four sources of market failure.

 

Mar 3rd, 2015

Negative externalities (e.g. the effects of environmental pollution) causing the social cost of production to exceed the private cost

Positive externalities (e.g. the provision of education and health care) causing the social benefit of consumption to exceed the private benefit

Imperfect information or information failure means that merit goods are under-produced while demerit goods are over-produced or over-consumed

The private sector in a free-markets cannot profitably supply to consumers pure public goods and quasi-public goods that are needed to meet people’s needs and wants

Market dominance by monopolies can lead to under-production and higher prices than would exist under conditions of competition, causing consumer welfare to be damaged


Mar 3rd, 2015

You copied the whole I can't use. So stop copying.

Mar 3rd, 2015

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