Saturday 25 October 2008

Market Failure (Economics)

Transfats - what do you know about them?

They kill you!

From the BBC we learn that transfats are being banned in California

Check back over your diagrams and then...

a) Using a diagram, explain what sort of market failure trans fats represent
b) Why has California taken this action?
c) To what extent do you think the action will reduce the market failure?

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