In light of what you have learned about idealizations, models, and/or explanations in economics, evaluate Daniel Hausmans critique of the theory of market failure.

Write a cogent essay on the following question. Be sure to develop an argument that reaches a firm and well-supported conclusion. This essay should be around 2 pages in length and must not exceed 3 pages.

Use the documents below as sources for Daniel Hausman’s critique of market failure as well as idealizations, models, and/or explanations of economics.