ome economists argue that government intervention is needed in addressing the issue of market failure. Yet governments also sometimes fail to implement policies or regulations properly and effectively. Explain why this situation can occur.

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A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

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Q: standing of

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A: *Answer:

Q: tax or a subsidy

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Q: A market that is efficient in allocating scarce resources to their best use. Which of the following…

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A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

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Q: Discuss the arguments for government intervention in the markets.

A: In a free market economy, the forces of demand and supply freely operate to determine the…