The BBC has this clear example of information failure in the alcohol market in Scotland
http://news.bbc.co.uk/1/hi/scotland/7538747.stm
a) How does tha alcohol market fail if information failure exists?
b) What negative externalities occur as a result according to the article?
c) Given that both information failure and negative externalities exist, what sort of good is alcohol (in economic terms)?
d) Given the results of the survey, what actions could the Scottish government take to reduce the market failure?
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