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reference: R. Glenn Hubbard and Anthony Patrick O'Brien, Economics, 8th Edition Market failures come in four varieties -- public goods, market control, externalities, and imperfect
reference: R. Glenn Hubbard and Anthony Patrick O'Brien, Economics, 8th Edition
Market failures come in four varieties -- public goods, market control, externalities, and imperfect information.
Please explain how mandatory seat belt laws may reduce the negative externalities of risk behavior.
Please use the information you obtain from Chapter 5 and any additional readings you will find and also consider the effects of negative externalities on economic efficiency.
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