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Is the automotive chip shortage an example of market failure

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Reference no: EM133599814

Question 1: One item that has been in the news for the last couple of years is the chip shortage roiling the automotive industry. Is the automotive chip shortage an example of market failure? Why or why not? Use all of the criteria for market failure in your assessment, explaining whether the chip shortage situation meets each criteria.

Question 2: Do you agree with the argument about whether the chip shortage is an example of market failure? Are there additional points that could strength this argument in either direction?

 

 

 

Reference no: EM133599814

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