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9. Market Failure.please use the material covered in the topic called The US Economy - Private and Public Sectors a. State the definition of a

9. Market Failure.please use the material covered in the topic called The US Economy - Private and Public Sectors

a. State the definition of a market failure,

b. List and explain the 4 causes of market failure included in the slides, including how they actually lead to over or under allocation of resources (market failure).Don't miss this part!Must be very specific.

c. State the definition of spillovers costs

d. Give two examples of a spillover cost situation and explain why your examples are correct.

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