Complete assigned integrative project work: Return to the exercise on resource characteristics and state of knowledge, assigned as part of the introductory module. Explain how you think the resource characteristics might influence how they should be allocated (i.e. competitively or cooperatively). Now apply your explanation to the specific resources relevant to your project.
Read the case study on eflornithine. Now, using your project as a case study, can you identify a situation in which the market is functioning as intended, but the desirability of the results is questionable? Specifically, explain how the market allocates factors of production to an industry or activity that many would consider less socially desirable, and how it fails to allocate the final product to the consumers who need it most. If this is irrelevant to your specific problem, look to current events for an example.
Explain the market failures associated with the resources relevant to your problem.