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Common property externalities - PowerPoint PPT Presentation

Market Failure (?): Public Goods, Common Property & Externalities

Market Failure (?): Public Goods, Common Property & Externalities. Dr. D. Foster Microeconomics. When do markets fail?. When will even perfectly competitive markets fail to produce the allocatively efficient level of output?. Public goods Common property Positive externalities

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Common property externalities - PowerPoint PPT Presentation

Market Failure (?): Public Goods, Common Property &amp; Externalities

Market Failure (?): Public Goods, Common Property & Externalities