Which of the following scenarios represents a complete market failure, rather than a partial market failure?
A private utility company provides high-speed fiber broadband to a metropolitan area but charges a monopoly price where price exceeds marginal cost (P>MCP > MCP>MC), leading to restricted consumer access.
A commercial timber corporation harvests wood from an ancient forest but ignores the negative impact of biodiversity loss on local eco-tourism.
No private firm is willing to construct and operate a regional coastal flood defense barrier because non-excludability prevents them from charging users.
Young adults purchase fewer preventative healthcare screening packages than is socially optimal due to a lack of awareness of long-term health risks.
