Assignment: Pick one market in which the price system does not produce an equitable price and quantity of output. In this market demonstrate which mode of market failure exists. Write a paper of 500 words minimum discussion with at least 2 sources cited in the MLA format. In your discussion be sure to address the following:
1. Describe what sort of market failure exists in the market you chose.
2. Describe an action has our government taken in order to provide this good or service in an equitable fashion in order to resolve this market failure?
3. What has been the end result of this government intervention? (be sure to cite these results. Do not offer opinions)
4. What is at least one alternative to the current government intervention to resolve the market failure?