3 Which of the following public sector actions are designed primarily to correct market failure: (a) laws

Question:

3 Which of the following public sector actions are designed primarily to correct

"market failure":

(a) laws against fraud,

(b) truth-in-lending legislation,

(c) rate regulation in the telephone industry,

(d) legislation setting emission control standards, (e)
subsidization of pure research,

(f) operation of the Post Office? Explain your answer.

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