On the fourth of july, there is no fireworks display in the small town of yankeeville, even though it would be efficient for such a display to be produced. which of the following statements is correct? a. the lack of a fireworks display in yankeeville arises because of an externalityb. the lack of a fireworks display in yankeeville is a case of market failurec. in deciding not to produce a fireworks display in yankeeville, private individuals and private firms made decisions that were privately rationals but socially inefficientd. all of the above