||A. When the market fails there are calls for the government to step in and clean up the mess. Here, we consider three market failures: 1. Externalities, 2. Public goods, and 3. Informational problems. Examine each market failure and the effect of each failure considering perfect competition as a benchmark. B. Write a brief report (500 words) addressing the following: 1. Are there sources of market failure other than those listed in your readings? 2. Describe how government intervention to address a market failure might worsen the situation. 3. Provide an example of where government intervention does work and why that is so.