0 Chapter 10. 1 In this chapter, look for the answers to these questions: What is an externality? Why do externalities make market outcomes inefficient?
ENVIRONMENTALITIES AND MARKET FAILURE. INTRODUCTION Markets allocate scarce resources with forces of supply and demand Equilibrium of supply and demand.
C. Bordoy UWC Maastricht Market Failure Public goods Public goods Common access resources and the threat to sustainability (Tragakes, 2012, pp. 119-130)
Microeconomics Unit 4
Market Failure
