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Main cases of market failures 1. Incomplete markets 2. Externalities 3. Non-exclusion 4. Non-rival consumption 5. Asymmetric information Characteristics Rival Non-rival of goods/bads Excludable Private Non-excludable Public

  1. Main cases of market failures 1. Incomplete markets 2. Externalities 3. Non-exclusion 4. Non-rival consumption 5. Asymmetric information

  2. Characteristics Rival Non-rival of goods/bads Excludable Private Non-excludable Public

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