Question: Hi i need help with a task Task is to explain a market failure scenario using diagrams The scenario is merit good production and it

Hi i need help with a task

Task is to explain a market failure scenario using diagrams

The scenario is merit good production and it needs to be applied to a real life example. Also I need to explain

1. MSC,MSB, MPC, MPB Explained; 2. Socially Optimal Level of Output Explained (MSB=MSC) 3. Policies used? 4. Static v Dynamic model

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