What are the ways (at least 3) on how to mitigate the market failure in the economy. NOTE: causes of market failure are the following: positive and negative externalities, environmental concerns, lack of public goods, the underproduction of merit goods, over provisions of merit goods and abuse of monopoly power. (The answer should be connected to this)

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter5: Difficult Cases For The Market And The Role Of Government
Section: Chapter Questions
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What are the ways (at least 3) on how to mitigate the
market failure in the economy.
NOTE: causes of market failure are the following:
positive and negative externalities, environmental
concerns, lack of public goods, the underproduction of
merit goods, over provisions of merit goods and abuse
of monopoly power. (The answer should be connected
to this)
Transcribed Image Text:What are the ways (at least 3) on how to mitigate the market failure in the economy. NOTE: causes of market failure are the following: positive and negative externalities, environmental concerns, lack of public goods, the underproduction of merit goods, over provisions of merit goods and abuse of monopoly power. (The answer should be connected to this)
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