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What type of market failure is demonstrated here

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Reference no: EM132402616

There is a revolutionary new drug that can save children's lives by preventing horrible diseases. However, this drug costs 2.1 million dollars, and is only taken once. Very few people can afford it.

What type of market failure is demonstrated here? Which of the following concepts are most relevant: Externalities, Monopolies, Oligopolies, Common Resources, Public Goods, and Artificially Scarce Goods?

Reference no: EM132402616

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