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"market inefficiency is necessary but not sufficient condition for government intervention". discuss four reasons in view...

"market inefficiency is necessary but not sufficient condition for government intervention". discuss four reasons in view of this assertion.

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Answer #1

Market inefficiency need not require government intervention because :

  • They are resolved through market forces
  • They are less heinous and unsustainable
  • They can be controlled immediately and effectively
  • They lack long term negative ramifications.

Market inefficiency brings firms an opportunity to innovate and bring viable solutions which make markets more effective.

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