Some questions found from an econs powerpoint
What type of good is tobacco?
Name the applicable market failures associated with cigarettes. Hint : There are 2 main market failures.
How has the Singapore government intervene to correct the market failure with regard to cigarettes?
eh what does the qn mean by 2 main market failures, when theres only one market?? or does it mean 2 main negative externalities resulting in market failure, or smth else?
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