For each of the following situations, the market system has failed and/or just will not allocate resources efficiently:
Situation 1: Firm A produces cement sifters. The process includes the melting of metals and chemicals which give the sifters strength. In the production process, waste is produced and released into the river that runs alongside of the plant.
Situation 2: Some states allow students to attend certain universities within the state tuition free if they are a resident of that state. As a result of this policy, the state's population is more educated and more productive in the workplace than many other states.
Using the scenarios above, prepare a 2 page Microsoft Word document that addresses 2 of the above scenarios and meets APA standards.
Include a summary section in your report that contains 5-7 bullet points identifying your major findings or conclusions of your paper.
Reference:Mankiw, N. G. ( 2017) Principles of Economics 8th Edition, Cengage.