I need help with #1-3. Thank you 1. Explain how three of the five market failure

Question

I need help with #1-3. Thank you

1. Explain how three of the five market failures—monopoly, externalities, public goods, asymmetric information and behavioral failures will result in reduced consumer surplus.

2. Even though they share the same intellectual framework for analysis, how do conservative economists and mainstream of economists differ in their policy views?

3. Explain whether taxing greenhouse gas emissions will lead to an optimal reduction in such gases or whether regulation is necessary. In your answer, take into account behavioral failures, the incentives for developing new technology, the rebound effect and the fact that regulation will ignore some low-cost means for reducing greenhouse gas emissions.

Explanation / Answer

1)

Market failure exists where demand and supply forces are not able deliver efficient results. Consumer surplus tends to fall when output falls and price increases.

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