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A. Breaking up Standard Oil was necessary because the same had become a monopoly which implies there was a consideration regarding the productive and allocative inefficiencies. Similar is the case with cable TV prices. Now the reason for prohibiting smoking in public places is the presence of negative externalities which tend to reduce social efficiency.
Option A B C and D are related to efficiency while E and F are related to equity. Select A, B, C, and D
The market failure associated with cable TV arises from the market power of the cable TV firm.
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