Market Failure

Bob Riney, Henry Ford Health System's most veteran hospital administrator, made a personal plea Thursday during a Zoom teleconference with reporters for people to wear masks and take more seriously the latest COVID-19 outbreak sweeping through Detroit and Michigan.

‎Show Think Like An Economist, Ep Externalities - The Full Cost of the Choices we make - Nov 2, 2020

Link: Since the beginning of the pandemic, the agriculture supply chain has been suffering. Although the shelves at grocery stores are not fully stocked, farmers are giving away their goods, or eve…

Joe wants to go on a cross country road trip, but he’s being a bit of a bother. He isn’t taking into account his actions and how they may be impacting others. For example, his de…

Externalities 1. Which of the following would NOT likely be considered a negative externality? a) Smelter Ltd. Creates steel and pollution in Anytown, USA. b) your roommate buys a new puppy that barks every night. c) you forgot to close a window in your car and it rains and damages the inter...