What is market failure? If market failure is present, does this imply that government intervention will lead
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What is market failure? If market failure is present, does this imply that government intervention will lead to a more efficient allocation of resources? Why or why not?
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Market failure refers to a situation in which a free market left to its own devices without government intervention does not efficiently allocate resources or achieve desirable outcomes In a market fa...View the full answer
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Related Book For 
Macroeconomics Private And Public Choice
ISBN: 9780357134009
17th Edition
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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