Suppose you run a business,House Party 4 Life. Your company operates house parties.

Norman just graduated from his BBA program and would like to host a graduation party at his parents' home, located in a quiet family neighborhood. Luckily, his parents are away. He has hired you (House Party 4 Life) to run the party this Sunday night from 8pm until morning. The price of this transaction is $1,000. Included in the price is a DJ to play music and make sure everyone is having a great time.

Explain how this economic transaction might suffer from market failure.