Name two types of market failure. Explain why each may cause market outcomes to be inefficient.

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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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Question Posted: Dec 14, 2012 06:50 AM

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Name two types of market failure. Explain why each may cause market outcomes to be inefficient.

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Two types of market failure are market power and externalities Market power may caus...View the full answer

Principles of economics

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