Politicians have a strong incentive to follow a strategy that will enhance their

Politicians have a strong incentive to follow a strategy that will enhance their chances of getting elected and re-elected. Political competition more or less forces them to focus on how their actions influence their support among voters and political contributors.
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What is market failure, and what kinds of things can lead to market failure? What is government failure? Can government failure lead to market failure?
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Review concepts like shortsightedness and rent seeking. What are the effects of government intervention in markets with some of the price regulations like price floors and price ceilings?

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