4.3.5: Implications of Nonrivalness

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Externality, Economics, Microeconomics, Market (Economics)

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Externalities + Public Goods
Two classic cases of market failure will be defined and explored: externalities and public goods. We will define each case, demonstrate why the market fails to provide the efficient outcome and suggest interventions through either marked design or regulation.

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  • Rebecca Stein

    Rebecca Stein

    Senior Lecturer

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