Identify a type of market failure. Provide an example of that type of market failure and briefly explain one way that the government could help reduce the negative effect of that market failure.

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Q: Give an example of an externality.

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Q: government is not able to decide whether it will be consumers or producers will pay a tax.

A: To find : Why government can't decide who will pay tax.

Q: None

A: First, let's analyze the given data: To make things easier, let's make supply and demand schedule by…

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Q: What is social policy?  What are some examples of social policy?

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Q: Government failure is present when the government engages in an activity such as the setting of…

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Q: Consider the market for gasoline. Referring to the graph, what is the deadweight loss from the…

A:

Q: If the government imposed a corrective tax that successfully moved the market from the market…

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Market Equilibrium and Failure

The economy of a country or any place depends on the market demand and market supply of goods and services.