1.1. Which of the following describes an externality and which does not? Explain the difference. a. A...

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1.1. Which of the following describes an externality and which does not? Explain the difference.

a. A policy of restricted coffee exports in Brazil causes the U.S. price of coffee to rise—an increase which in turn also causes the price of tea to rise.

b. An advertising blimp distracts a motorist who then hits a telephone pole.

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Microeconomics

ISBN: 9780132080231

7th Edition

Authors: Robert S. Pindyck, Daniel L. Rubinfeld

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Question Posted: Oct 26, 2024 05:00 AM

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1.1. Which of the following describes an externality and which does not? Explain the difference. a. A...

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Microeconomics

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