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26 January, 22:01

Thousands of people develop lung cancer from second-hand exposure to cigarette smoke. This is an example of a. a market failure caused by an externality. b. a market failure caused by market power. c. a market failure caused by equality.

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  1. 27 January, 01:31
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    A. A market failure caused by an externality

    Explanation:

    An externality is a term in economics that refers to a cost or benefit received by a third party. However, the third party has no control over the creation of that cost or benefit. In this case the lung cancer is developed because of smoke generated by a third party.
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Home » Business » Thousands of people develop lung cancer from second-hand exposure to cigarette smoke. This is an example of a. a market failure caused by an externality. b. a market failure caused by market power. c. a market failure caused by equality.
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