Examine the four kinds of market failures that lead to government involvement in public policy. For each type of market failure, discuss the following: (a) the nature of the failure, that is, what it looks like and how it occurs; (b) an illustrative example; and (c) the way in which government may address the failure.

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The Answer of Examine the four kinds of market failures that lead to government involvement in public policy. For each type of market failure, discuss the following: (a) the nature of the failure, that is, what it looks like and how it occurs; (b) an illustrative example; and (c) the way in which government may address the failure.

Examine the Four Kinds of Market Failures That Lead to Government