Explain How the Introduction of an Additional Competitive Market Can

question 25

Essay

Explain how the introduction of an additional competitive market can always solve the efficiency problem that emerges from a positive externality.

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Definitions:

Imagined

Imagined pertains to something conceived or visualized in the mind but not necessarily existent in reality.

Vulnerable

A state of being open to harm, damage, or illness, either physically or emotionally, due to external conditions or internal susceptibilities.

Distortions

Alterations or misrepresentations of reality, often seen in perceptions or in cognitive processes.

Photographic Memory

The ability to remember information or visual images in great detail, as if one has taken a photograph of the scene.