Slide 1Market Failure Slide 2 When the market does not efficiently allocate resources Either too much or too little is produced Monopoly Externalities Public goods Imperfect…
Slide 1Law & Economics Fall 2008 Dr. Delemeester Slide 2 What is Law & Economics? Three Strikes Laws? No-Fault Divorce Laws? Kelo v. City of New London…
Market Failure All pollution should be eliminated. Strongly Agree Agree Neutral Disagree Strongly Disagree 1 2 3 4 5 Market Failure When the market does not efficiently allocate…