Explain why an externality might be a market failure. What does market failure mean?

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Economics

ISBN: 9781032046723

9th Edition

Authors: William Boyes, Michael Melvin

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Question Posted: Apr 23, 2024 08:40 AM

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Explain why an externality might be a market failure. What does market failure mean?

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An externality can lead to market failure because it represents a situation where the costs or benefits of a transaction are not fully reflected in th...View the full answer

Economics

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