Hello. I have questions about economic exercise. My teacher wants detailed and step-by-step solutions.

Could you give me proper answers to the following questions?

1. 1) What are the necessary conditions for economic efficiency? 2)In what four situations might a market fail to achieve ideal economic efficiency?

2. 1) What is market failure? 2) If market failure is present, does this imply that government intervention will lead to a more efficient allocation of resources? 3) Why or why not?

3. Apply the economic efficiency criterion to the role of government. 1) When would a government intervention be considered economically efficient? 2) When would a government intervention be considered economically inefficient?