Which of the following economic scenarios represents an example of a complete market failure, rather than a partial market failure, in an unregulated market economy?
A manufacturing firm discharges chemical waste into a local river, causing health problems for residents, while continuing to produce and sell its goods.
A private enterprise is unable to establish a profitable market to provide national coastal flood defence barriers due to the non-excludable nature of the service.
Consumers purchase fewer subscription-based preventative health checks than is socially optimal because of information failure regarding their long-term health benefits.
A monopoly provider of rail infrastructure charges ticket prices well above marginal cost, resulting in allocative inefficiency and underconsumption of rail travel.
