Microeconomics: Principles, Applications, and Tools (8th Edition)

Published by Prentice Hall
ISBN 10: 0-13294-886-9
ISBN 13: 978-0-13294-886-9

Chapter 3 - Exchange and Markets - Exercises - 3.3 Market Failure and the Role of Government - Page 65: 3.1

Answer

cost benefit

Work Step by Step

If the costs or benefits of production do not accrue to the decision makers, the decisions may not be the most efficient.
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