Market Failure
- Created by: Dominic Lawson
- Created on: 12-05-13 23:17
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Marginal private cost/benefit- cost/benefit to an individual or firm in a transaction
Marginal social cost/benefit- full cost/benefit to society, including private and external costs
Marginal external cost/benefit- spillover cost/benefit to third parties
Government Intervention:
- Intervention to close…
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