Discussion Post: Market Failure
After you have completed all of the learning assignments for Modules 5-8, it is time to apply what you have learned to a real-world market failure situation of your own choosing.
For this, you first need to identify a recent news article (one that was published within a month of your submitting your answer) that describes some sort of market failure situation (based on externalities, or public goods, or some sort of imperfect competition, etc.). Your task then is to write a short essay outlining the relevant market failure issues at hand using appropriate diagrams that make the nature of the market failure at hand clear.
This discussion is intended to allow you to demonstrate your understanding of the economic concept of market failure. For this you need to demonstrate (i) that you were able to identify a suitable situation of market failure, and (ii) that you are able to write a report which demonstrates your mastery of basic concepts at hand.
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.