What are the four sources of market failure? Explain how each of them causes individual profit- and

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What are the four sources of market failure? Explain how each of them causes individual profit- and utility-maximizers to make decisions that may be privately optimal but are socially suboptimal. What general policies might correct each of the instances of market failure?

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Law and economics

ISBN: 978-0132540650

6th Edition

Authors: Robert cooter, Thomas ulen

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