Why are externalities called market failures? Are pecuniary externalities also an example of market failure?

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Microeconomics

ISBN: 978-1292079578

Global Edition 1st Edition

Authors: David Laibson, John List

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Question Posted: Dec 15, 2015 07:53 AM

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Why are externalities called market failures? Are pecuniary externalities also an example of market failure?

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Externalities are called market failures because the market allo...View the full answer

Microeconomics

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