failure discussed, In each case? Identify the type of market failure and defend your choice.
A: An auto repair shop convinces you that you need a $2000 calve job when all you really need is an oil change.
B: Everyone in the neighborhood would benefit if an empty lot were turned into a park, but no entrepreneur will come forward to finance the transformation.
C: Someone who lives in an apartment building buys a Gretchen Wilson CD and then blasts it at full volume at 3 A.M.
D: The only two airlines flying direct between St. Louis and Atlanta make an agreement to raise their prices.
A: An auto repair shop convinces you that you need a $2000 calve job when all you really need is an oil change.
B: Everyone in the neighborhood would benefit if an empty lot were turned into a park, but no entrepreneur will come forward to finance the transformation.
C: Someone who lives in an apartment building buys a Gretchen Wilson CD and then blasts it at full volume at 3 A.M.
D: The only two airlines flying direct between St. Louis and Atlanta make an agreement to raise their prices.