Often it is said that government is necessary when private markets fail to work effectively and fairly.

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Often it is said that government is necessary when private markets fail to work effectively and fairly. Based on your reading of the text, discuss how private markets might break down.

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Microeconomics A Contemporary Introduction

ISBN: 978-1111415921

9th edition

Authors: William A. McEachern

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Question Posted: Dec 12, 2015 05:18 AM

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Often it is said that government is necessary when private markets fail to work effectively and fairly.

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1 Private markets may fail to safeguard private property and enfor...View the full answer

Microeconomics A Contemporary Introduction

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