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1. Explain the meaning of market failure. What role state can play in rectifying market failure? 2. What are the causes of market failure? 3.

1. Explain the meaning of market failure. What role state can play in rectifying market failure?

2. What are the causes of market failure?

3. Explain the role of government intervention in economic development.

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The detailed answer for the above question is provided below Answer 1 Meaning of Market Failure and the Role of the State in Rectifying It Market failure occurs when the allocation of goods and servic... blur-text-image

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