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Suppose I'm a member of the Arizona Student Government, and I propose that we turn the quad into a water slide park, offering free admission to the entire Wildcat community

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Suppose I'm a member of the Arizona Student Government, and I propose that we turn the quad into a water slide park, offering free admission to the entire Wildcat community. Before making this proposal, I poll Arizona students and find that 90% of them would gladly use the waterpark. Is the current failure of the market to supply free water slides to Arizona students an example of market failure? Why or why not?