Business, 03.09.2021 16:50 mxltie1651

Bakers are much likely to supply pastries to the market if property rights are enforced. In the presence of market failures, public policy can improve economic efficiency.
Classify the source of market failure in each case listed.
Market Failure Market Power Externality
A person smoking in a restaurant emits second-hand smoke that harms other restaurant patrons.
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.

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Bakers are much likely to supply pastries to the market if property rights are enforced. In the p...

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