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Write a essay on the questions,word limit 1000 Question: 1. Market failures refer to situation when private market fails to allocate resources efficiently. A.Discuss the

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Write a essay on the questions,word limit 1000

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Question: 1. Market failures refer to situation when private market fails to allocate resources efficiently. A.Discuss the three situations in which market failure occurs. B.For each situation explain why private firms fail to allocate resources efficiently. C.For each situation how government intervention can enhance efficiency

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