Thread: Externalities
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Old Oct 28, 2003, 06:57 pm   #5 (permalink) (top)
Geoff332
Igneous Magma
 
Location: New Zealand
Posts: 309
But the EPA is not a 'market' agency -- it doesn't any provide goods and/or services on a competitive market. It exists (and has power) because it is a government institution, not because of it's market behaviour.

But you have given me one answer, of sorts -- that agencies operating outside of the market can be created to regulate a market.
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