Quality of water has suffered as pollution washed into lake

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Suppose you live in a community that relies on clean drinking water from a nearby lake. Lately you have noticed that the quality of the water has suffered as pollution washed into the lake.

Is this a market failure? Explain.

An editorial in the local newspaper suggests that all residents donate money to clean up the lake. Why would this suggestion be unlikely to succeed?

Reference no: EM13894122

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