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Economics
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Market power and externalities are examples of:

a. imperfect information

b. government interventions

c. market failures

d. None of the above

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Yusra Anees
Yusra AneesLv10
16 Mar 2021
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Related questions

How do market failures cause inefficient allocations of resources? Be sure to understand common market failure problems that apply to the environment like externalities, public goods, imperfect competition, and asymmetric information issues. Understand why government failures can occur along similar lines in some cases

Concerning market failures, what divergences arise between equilibrium output and efficient output when (a) negative externalities and (b) positive externalities are present?

How might government correct these divergences?

Cite an example (other than the text examples) of an external cost and an external benefit

A. Describe market failures, and explain why market failures lead to government intervention.

B. Describe transfer payments and explain how this form of government action is supposed to benefit society.

C. How does government action correct imperfect information? Why is this necessary in a free-market system?

D. What is the government doing when it provides a public good such as national defence

E. Why does the government impose fines on firms that create pollution as a byproduct of their production?

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