Chapter 4 - Market failures: public goods and externalities. This chapter seeks to define a market failure and the consequences of a market failure. The chapter begins by looking at the demand side of market failures, the supply side of market failures, and the inefficiencies found. It goes on to describe and show consumer and producer surplus. It defines and describes private goods, public goods, the free-rider problem, and quasi-public goods. | Lecture Macroeconomics 20 e Chapter 4 - McConnell Brue Flynn
