Business, 08.03.2021 19:30 alyxkellar06

Bakers are muchlikely to supply pastries to the market if property rights are not enforced. In the presence of market failures, public policy can improve economic efficiency. Classify the source of market failure in each case listed. a. A single public utilities company is responsible for supplying electricity for an entire state. As a result, the utilities company can set the price of electricity.
b. A person smoking in a restaurant emits second-hand smoke that harms other restaurant patrons.

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Bakers are muchlikely to supply pastries to the market if property rights are not enforced. In the p...

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