a. positive externalities are created through their production.
b. by their very nature they are nonexcludable and nonrival which makes it difficult for the private sector to supply them profitably.
c. they are provided by firms with market power.
d. their is incomplete information regarding their quality.
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Home » Business » Public goods represent a market failure because a. positive externalities are created through their production. b. by their very nature they are nonexcludable and nonrival which makes it difficult for the private sector to supply them profitably. c.