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Unformatted text preview: total Surp = A F Deadweight Loss=nada w/ tax CS=A PD=D G=B+C TS=A+B+C+D DWL=E+F Four Sources of market failure: 1. When Goods are Free (lighthouse) 2. Externalities(2 nd hand smoke)(asking a question in class, everyone gets answer) 3. Market Pwr. 4. Info is not perfect. (buyers/sellers cannot receive adequate info)....
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