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1. [20 Points] In class, I discussed the following sources of market failure with examples. Explain why each of these undermines market efficiency. Provide one
1. [20 Points] In class, I discussed the following sources of market failure with examples. Explain why each of these undermines market efficiency. Provide one example in each case to support your explanations. Your response should be brief and precise. a. Externalities b. Incomplete information c. Irrationality d. Government regulations
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