A town council is mediating a dispute between a new concert venue and a neighboring residential community over late-night noise. The council proposes a strict, non-negotiable ordinance that requires the venue to cease all music at 10:00 PM. From an economic perspective focused on achieving the most efficient outcome by addressing harmful effects, what is the primary potential flaw in the council's proposed ordinance?
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Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
Ch.10 Market successes and failures: The societal effects of private decisions - The Economy 2.0 Microeconomics @ CORE Econ
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