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Market Failure

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PPGPortal > Home > Concept Dictionary > K, L, M > Market Failure
 

Market Failure 

Market failure occurs when a market fails to produce an economically efficient outcome. This means that potential Pareto improving exchanges exist that (for some reason) have not been captured.

(West Virginia University. Web Book of Regional Science. http://rri.wvu.edu/WebBook/Schreiner/glossary.htm.)

     

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